ALEXANDRIA, Va. — The National Community Pharmacists Association announced that three teams of pharmacy students have been named finalists in the 2019 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition. Teams of pharmacy students from the University of Georgia College of Pharmacy, the University of Oklahoma College of Pharmacy, and the University of Texas at Austin College of Pharmacy will present their business plans in a live competition on Oct. 26, 2019, at the NCPA Annual Convention in San Diego.
“A solid business plan is vital for community pharmacists in being prepared to handle the challenges they may face in the future,” said NCPA Bill Osborn. “This competition helps pharmacy students gain hands-on experience developing and testing various plans, with the additional benefit of receiving helpful feedback from pharmacy professionals. We were impressed by all of this year’s business plans, and are especially proud of the three teams of finalists who will be giving live presentations during the competition at NCPA’s Annual Convention in October. Best of luck to the pharmacy students from the University of Georgia College of Pharmacy, the University of Oklahoma College of Pharmacy, and the University of Texas at Austin College of Pharmacy.”
Team members from these three schools will compete for first, second, and third place in an exciting, live competition for the following awards:
First Place: $3,000 to the NCPA student chapter and $3,000 contributed to the school in the dean’s name to promote independent pharmacy.
Second Place: $2,000 to the NCPA student chapter and $2,000 contributed to the school in the dean’s name to promote independent pharmacy.
Third Place: $1,000 to the NCPA student chapter and $1,000 contributed to the school in the dean’s name to promote independent pharmacy.
The Student Business Plan Competition, supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies, and the NCPA Foundation, is the first national competition of its kind in the pharmacy profession and honors two great champions of independent community pharmacy, the late Neil Pruitt Sr. and the late H. Joseph Schutte. The goal of the competition is to motivate pharmacy students to create a feasible business model for buying an existing independent community pharmacy or opening a new pharmacy, and to prepare tomorrow’s pharmacy entrepreneurs for a successful future.
The teams rounding out the the top 10 of the competition, listed alphabetically, are: Idaho State University College of Pharmacy, Rutgers University Ernest Mario School of Pharmacy, University of Arkansas for Medical Sciences College of Pharmacy, University of Missouri-Kansas City School of Pharmacy, Washington State University College of Pharmacy and Pharmaceutical Sciences, Washington State University-Yakima College of Pharmacy and Pharmaceutical Science, and Western University of Health Sciences College of Pharmacy. The submissions were judged by more than 70 NCPA members, Good Neighbor Pharmacy Business Coaching consultants, and various business leaders from across the country.
All participating schools receive a plaque commemorating their first year of participating in the competition. Teams that compete in multiple years receive an engraved plate with the year of participation to add to their plaque. Teams placing in the top 10 receive a special plate acknowledging this distinction. For more information about the Student Business Plan Competition, please visit NCPA’s website.