Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition

In an effort to promote interest in independent community pharmacy ownership, the National Community Pharmacists Association (NCPA) and the NCPA Foundation have established the Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition. The goal of the Competition is to motivate pharmacy students to create the blueprint necessary for buying an existing independent community pharmacy or to develop a new pharmacy. The Competition is the first national competition of its kind in the pharmacy profession and is named to honor two great champions of independent pharmacy, the late Neil Pruitt, Sr., and the late H. Joseph Schutte. Through this competition, NCPA is better able to prepare tomorrow's pharmacy entrepreneurs for a successful future.

The Pruitt and Schutte families initiated an endowment fund with the NCPA Foundation to help support annual operating expenses of the competition. The competition is supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies, and the NCPA Foundation

Eligibility Requirements:

  • Teams must be composed of pharmacy students, all of whom must be active NCPA student members, from May 15, 2016 through October 24, 2016.
  • Each team must have one (1) team advisor who is a pharmacist member of NCPA or who is a full-time faculty member at the pharmacy school.
  • Pharmacy schools entering the competition must have an active NCPA Student Chapter. Please email studentaffairs@ncpanet.org for chapter status. NOTE: Only one application will be accepted per student chapter.
  • If selected as finalists, team members (up to four) and the team advisor must be able to attend the NCPA Convention in October.

Timeline:

  • Applications must be submitted electronically on or before: 11:59pm EASTERN May 15, 2016.

  • Three (3) finalists will be announced at the American Association of Colleges of Pharmacy (AACP) Annual Meeting in July.

  • Presentation materials from the 3 finalists must be postmarked by August 14, 2016 or have an email time stamp of 11:59 pm EASTERN on August 14, 2016.

  • Live presentation will be made at the NCPA Annual Convention on Saturday, October 15, 2016.

Award Description:

The team members and team advisor of the 3 finalists will receive complimentary registration, travel, and lodging to the NCPA Convention. After the live presentations have been evaluated and scored, the following awards will be presented:

FIRST PLACE: $3000 to the NCPA student chapter, and $3000 in the Dean's name to promote independent pharmacy at the school. The team members, team advisor, and Dean will receive complimentary registration, travel, and lodging to the Multiple Location Conference in February 2018.

SECOND PLACE: $2000 to the NCPA student chapter, and $2000 in the Dean's name to promote independent pharmacy at the school.

THIRD PLACE: $1000 to the NCPA student chapter, and $1000 in the Dean's name to promote independent pharmacy at the school.

Grading Criteria:

Plans are graded on the content and appearance of the documents submitted. The twelve rubric domains are: Cover Sheet (4pts), Table of Contents (3pts), Mission Statement and Vision Statement (9pts), Description of Business (14pts), Physical Description of the Business (7pts), Summary of Loan Request (9pts), Financial Documents (17pts), Marketing Plan (9pts), Supporting Documents (3pts), Originality and Creativity (10pts), Feasibility/Ability to Implement (10pts) and Neatness and Professionalism (5pts). The specific criteria that must be met within each of these categories are described in the grading rubric.

Resources:

Business Plan Success Stories: