September 2, 2020
The National Community Pharmacists Association announced that three teams of pharmacy students have been named finalists in the 2020 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition, including a team from the UNC Eshelman School of Pharmacy.
The UNC Eshelman School of Pharmacy team consists of Anna Brown, Sydney McEachern, and Daniel Ruiz. The group, along with pharmacy student teams from the University of Arkansas for Medical Sciences College of Pharmacy and the University of Iowa College of Pharmacy, will present their business plans at the virtual NCPA Annual Convention in mid-October.
The purpose of the competition is to motivate students in pharmacy school to create a thought-out plan for either purchasing an existing pharmacy or opening a pharmacy from the ground up, and to prepare tomorrow’s pharmacy entrepreneurs for a successful future.
“A solid business plan is vital tool for community pharmacists to be prepared to handle challenges that may arise in the future,” said NCPA President Brian Caswell, RPh. “This competition helps train pharmacy students on how to write a thorough business plan now, so that they are better equipped as future pharmacy entrepreneurs. Writing a business plan is challenging enough on its own, but these teams demonstrated their resilience and drive by writing one during a pandemic. I am 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 Arkansas for Medical Sciences College of Pharmacy, the University of Iowa College of Pharmacy, and the University of North Carolina Eshelman School of Pharmacy.”
This is the third time since 2012 that the UNC Eshelman School of Pharmacy has placed in the top 10 in the competition, and the second time since 2016 in the top three.
“I’m so proud of this team and the plan they put together,” said Patrick Brown, UNC Eshelman School of Pharmacy alumni, adjunct faculty member and the team’s coach. “They have been working on this plan for months and have put in countless hours. I can’t wait to watch them compete as a national finalist, and to see where their work ethic and strong business acumen will take them in their careers”.
Team members from the three competing schools will compete for first, second, and third place in a 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.
Those grading the teams’ plans are independent pharmacy owners, business coaches and consultants, financiers, or community pharmacy practitioners, and must follow a detailed rubric when grading plans.
The Student Business Plan Competition, which is supported by Good Neighbor Pharmacy, Pharmacists Mutual Insurance Company, 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.
For more information about the Student Business Plan Competition, please visit NCPA’s website.
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