Top 10 in the Business Plan Competition!
Rutgers NCPA Student Chapter is proud to announce that we placed TOP 10 in the Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition for the fourth year in a row! |
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Business Plan Competition FAQ
WHAT IS THE BUSINESS PLAN COMPETITION?
WHAT ARE OUR OBJECTIVES AND GOALS?
- Expose pharmacy students to core business concepts.
- Develop pharmacists that can succeed in the business and management of pharmacy practice.
- Develop pharmacists that are able to create innovations to address healthcare needs.
- Develop pharmacists that are active leaders in the pharmacy profession.
- Develop pharmacists that can adapt and respond to health care reform.
WHY SHOULD YOU JOIN?
You will discover:
- How to develop innovative solutions to emerging health care challenges
- How to establish an entrepreneurial career and new business models
- How to utilize pharmacy staff to optimize workflow
- How to work together to increase competitiveness in the pharmacist job market
- The concept of pharmacy management and pharmacy ownership
HOW MANY STUDENTS CAN JOIN THE TEAM?
- The more the merrier! Anyone can help prepare the business plan.
- However, only 4 members of the team are allowed to participate in the live presentation.
WHAT STUDENTS CAN JOIN THE TEAM?
- Students in their PP1 to P3 year
WHAT ARE THE COMPONENTS OF A BUSINESS PLAN?
- Cover and Title Page
- Executive Summary
- Table of Contents
- Business Description*
- Physical Description
- Marketing Plan (market analysis and marketing strategy)*
- Summary of Loan Request
- Financial Plan (Financial Statements and projections)*
- References
- Appendices
* Committees you can be involved in
WHAT DO OUR COMMITTEES DO?
- Business: Legal Structure, Location Analysis, Organizational Chart/ Primary Management Structure, Insurance Policies, Security Measures
- Marketing: Market Description (Target market, Marketing materials, Marketing Activities (Online & Offline Promotion), Marketing Budget
- Financial: Projected Sales, Projected Expenses, Cost per Square Foot Evaluation, Income Statement, Cash flow projection
WHAT IS THE LIVE PRESENTATION?
- The finalists will be selected from the submitted written business plans.
- Each team will provide a 20-minute presentation before a live audience and panel of judges.
ARE THERE ANY NATIONAL DUES?
- Yes. Everyone will have to pay national dues.
- All expenses to go to the nationals will be covered.
WHAT ARE THE REWARDS FOR PLACING IN THE TOP THREE?
- 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.
- Top Ten : Announced on the NCPA website, receive a special plate acknowledging the distinction