NCPA Executive Update

NCPA Executive Update delivers insights on legislative, regulatory, policy, and industry developments from NCPA CEO B. Douglas Hoey, Pharmacist, MBA, to NCPA members and pharmacy leaders every Friday.

If you don't want to grab the lifeline, be the lifeline | NCPA Executive Update | May 25, 2018

by NCPA | May 25, 2018

Dear Colleague,

Doug Hoey

It seems that "Who Wants to Be a Millionaire?" has been on TV forever. The contestants change, the hosts change, but the format stays pretty much the same. Everything is going along fine, and then, the contestant encounters an obstacle. They reach out for a lifeline – and most of the time, they phone a friend. They only have one chance to do that. Grabbing the lifeline probably wasn't part of their plan, but they're always grateful for it. Especially when the answer is correct.

A lot of people in pharmacy these days are encountering obstacles they didn't expect to find. Fortunately, we have a lifeline to offer. We offer a Pharmacy Ownership Workshop, sponsored by McKesson and in part by Live Oak Bank and Pharmacists Mutual Insurance Company.

Here's another way to think about that lifeline. Why not phone a friend? Do you have a pharmacy school friend who works for a chain and is looking for a way out? A friend you met at a professional function who expressed interest in ownership? Can you think of a colleague who would make a great pharmacy owner one day?

Maybe today is that day. Throw out that lifeline. Phone your friend. Forward this email. This may be just what they're looking for.

We are fast approaching the deadline to register for our next Ownership Workshop, set for June 8-10, in Denver. The workshop is a three-day crash course for those considering pharmacy ownership or current owners looking to ratchet up their skills. Attendees explore pharmacy ownership in depth, and whether you're starting from the ground up, purchasing an existing store, or expanding to become a multi-store owner, this workshop could very well be your lifeline.

We have a team of experts poised to answer all the essential questions a potential owner might have. Topics include the loan approval process, licensure agreements, creating a start-up checklist, writing a business plan, designing an effective store layout, building a successful pharmacy practice, business owner roles, responsibilities, and management styles, financial planning for success and growth, marketing your pharmacy, assessing technology needs for the pharmacy and legal and accounting counsel, floor planning, pricing strategies, and product placement – everything you wonder about and aren't sure where to turn for the answers. We have them, and we're happy to share them.

All that knowledge ... all that wisdom ... all that smart advice – this truly is a lifeline for someone who wants to move into pharmacy ownership or expand their ownership. About 2,500 people have attended NCPA's Ownership Workshop, and more than half of them are owners today.

If pharmacy ownership is your dream, come to Denver. We want to help you go for it. But if a new ownership opportunity is not on your radar right this minute, help someone else start on the path toward their ownership dream.

Wishing you a safe and happy Memorial Day weekend.

Doug Hoey

P.S. Speaking of game shows ... you've got three days left to take advantage of the FLASH SALE on registration for NCPA 2018 Annual Convention. This year's Convention is all about taking your business to a new level. You don't want to miss it, especially not at this special price – the lowest one we'll offer this year. So ... Deal or No Deal? That's easy – this is the best deal around!