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Business Plan
Craig Fisher, Ryan Junkins, Kelly Jay, Ian Ray
4/23/2015
(317) 940-WELL
4600 Sunset Avenue
Indianapolis, IN 46208
butlerwaypharmacy@butler.edu
www.butler.edu/butlerwaypharmacy
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Table of Contents
Executive Summary...........................................................................................................3
Business Description..........................................................................................................5
Company Overview
Mission Statement
Vision Statement
Values Statement
Business Goals and Objectives
Management Plan ..............................................................................................................6
Legal Form of Organization
Management Team
Organization Structure
Product and Services Plan.................................................................................................8
Products and Services
Competitive Advantage
Barriers to Entry
Environmental-Impact Analysis
Market Analysis ...............................................................................................................11
Industry Overview
Market Size
Target Market
Customer Profile
SWOT Analysis
Marketing Plan.................................................................................................................15
Executive Summary
Unique Selling Proposition
Pricing Positioning Strategy
Distribution Plan
Deals and Offers
Marketing Materials
Promotion Strategy
Online Marketing Strategy
Conversion Strategy
Operational Plan..............................................................................................................19
Research and Development
Location
Hours
Permits/Licensing
Risk/Crisis Management
Financial Plan...................................................................................................................21
References.........................................................................................................................25
Appendices........................................................................................................................26
Owner CVs .......................................................................................................................31
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Executive Summary
The Butler Way Pharmacy is an innovative community pharmacy collaboration between
Walgreens Boots Alliance, Inc. (“Walgreens”) and Butler University College of Pharmacy and
Health Sciences (“COPHS”). The founding student members of this collaboration are Craig
Fisher, Ryan Junkins, Kelly Jay, and Ian Ray.
As part of Butler University’s “Butler 2020” vision, a new parking garage is currently
under construction on campus and includes thousands of square feet of retail space. Butler Way
Pharmacy will be located in an approximately 3,000-square-foot facility within this new retail
space and will serve as a pilot pharmacy for Walgreens as well as a center of student learning for
COPHS.
This location was chosen primarily for its competitively short distance from Butler Way
Pharmacy’s target market, the students of Butler University and the residents of the surrounding
Butler-Tarkington area, all of whom patronize nearby competitors. The Butler Way Pharmacy
also benefits from its location on a university campus in that energetic, eager, and inventive
young students are readily available to aid in staffing in exchange for experience and fulfillment
of the large amount of internship hours required for Doctor of Pharmacy licensure.
In addition to offering the typical community pharmacy fare of prescription filling,
convenience items, and drug therapy counseling, the Butler Way Pharmacy seeks to differentiate
itself in a way that capitalizes on early adopter advantage. The community pharmacy arena is in
dire need of such innovation, as hushed whispers of automation and mechanized dispensing
robots grow louder with each passing quarter. Butler Way Pharmacy recognizes this fault in the
current community pharmacy model and counters with a multi-purpose, hands-on, contemporary
“third space” area within the facility that is dedicated to educational health topics relevant to
modern Information Age consumers and their Baby Boomer counterparts—wearable health
technology, data-driven health metrics, and demystifying health insurance law changes, to name
a few.
The commonly cited counterpoint to the early adopter advantage is the inherent financial
risk involved with innovation. Fortunately, Butler Way Pharmacy anticipates enthusiastic
support from Walgreens in exchange for (1) building its brand among the relatively affluent
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student population of Butler University, (2) fostering professional relationships with future
pharmacists, and (3) the opportunity to pilot new programs in an already existing atmosphere of
innovation as Butler undergoes expansion. As Butler grows, so too will Walgreens and the field
of pharmacy. Estimated start-up costs are $1.4 million with a goal of 4 years as a break-even
point.
By combining the support of a large financial entity such as Walgreens, the enthusiasm
and creativity of COPHS students, and the pharmaceutical and clinical knowledge of COPHS
faculty, the Butler Way Pharmacy will integrate technology, health, and community outreach in
such a way that ignites a movement to propel the field of pharmacy into the twenty-first century.
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Business Description
Company Overview:
The Butler Way Pharmacy by Walgreens is a collaborative community pharmacy located
in the new retail space on Butler University’s campus. We are the latest innovation in community
pharmacy, combining the premier professional and innovative education of the Butler University
College of Pharmacy and Health Sciences with the global Walgreens enterprise to establish a
trusted community pharmacy in the Butler-Tarkington neighborhood. The Butler Way Pharmacy
will offer a full service pharmacy, convenience store, various pharmacy services, and new
student/Walgreens-driven pilot programs in a convenient location. The collaboration will foster
the growth of professional students to provide value to Walgreens, Butler COPHS students, the
Butler-Tarkington neighborhood, and the advancing pharmacy profession.
Mission Statement:
The Butler Way Pharmacy’s mission is to provide the Butler and the surrounding
community with innovative pharmacy and wellness services made possible by a collaborative
educational practice from Walgreens and the Butler University College of Pharmacy and Health
Sciences.
Vision Statement:
To be a community leader in innovative pharmacy services and integrated professional
pharmacy education while fostering a happy and healthy local community.
Values Statement:
The Butler Way Pharmacy has created a set of core values that reflects those of
Walgreens which include trust, care, innovation, partnership, and dedication in order to inspire a
happier and healthier community.1
 Integrity: Integrity means being honest to what we say we will do while maintaining
honest and respectful relationships among coworkers, customers, and the public to
advance trust between pharmacists and patients.
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 Education: As the core mission of Butler University, we are committed to integrating
worthwhile educational experiences into every aspect of our business.
 Innovation: In a time when technology and the role of the pharmacist is continually
evolving, our company believes in providing our consumers with innovative technology
and pharmacy services that also advances the pharmacy profession and its role in the
community.
 The Butler Way: We believe in selfless team efforts to accomplish our goals in the
highest traditions of our University.
Business Goals and Objectives:
 Break even financially within 4 years to become self-sustaining (positive net income)
 Have active pharmacy students taking leads on pharmacy operations and services (e.g.
counseling, immunizations), as well as carrying out such operations themselves as far as
licensing allows
 Establish pilot programs initiated by both Butler COPHS and Walgreens
 Improve the professional partnership between Walgreens and Butler University
 Build trusted brand loyalty for both Walgreens and Butler University
Management Plan
Legal Form of Organization:
Limited Liability Corporation (LLC) – The Butler Way Pharmacy will exist as an LLC that is
ultimately a subsidiary of Walgreens and Butler College of Pharmacy and Health Sciences. The
LLC organizational structure offers many benefits, such as flexibility in management structure,
allowing management to quickly reorganize if needed, an important quality for a business that
desires to break away from traditional pharmacy organization and practice. Additionally, profits
in an LLC, rather than being based on percentage of ownership, can be divided as the owners see
fit, allowing the profits from operations to be diverted solely to Walgreens, as future contracts
will dictate as a financial incentive.
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Management Team:
 Pharmacy Manager: The pharmacy manager will be a full-time Walgreens employee
and licensed pharmacist that will oversee both pharmacy and store operations. He/she
will report to the existing Walgreens District Pharmacy Supervisor for the market area.
Because the location will not allow for the typically greater space for inventory like other
Walgreens locations, the typical responsibilities of a store manager are integrated into
those of the pharmacy manager.
 Staff pharmacist: The staff pharmacist(s) will operate the pharmacy and store when the
Pharmacy Manager is not working. The staff pharmacist(s) will report to the Pharmacy
Manager.
 Pharmacy Intern: The Pharmacy Intern(s) will be integrated into management and
pharmacy operations. The Pharmacy Intern will report to the Pharmacy Manager.
 Pharmacy Technician: The Pharmacy Technician(s) will complete responsibilities and
tasks within both the pharmacy and the entire store. The Pharmacy Technician(s) will
report to the Pharmacy Manager.
 Pharmacy Advisor: The Pharmacy Advisor will be a Butler University COPHS faculty
member or staff person who will oversee educational integration. The Pharmacy Advisor
will work closely with the Pharmacy Manager and report to the Dean of the College.
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Organization Structure:
Product and Services Plan
Revenue sources for The Butler Way Pharmacy will be a combination of sales for
products and services. A variety of products will be offered, including but not limited to
prescription medications, OTC medications, cosmetics, and other convenience items (i.e.
toiletries, snacks). Billable services will include immunizations, medication therapy management
(MTM), new to therapy counseling, and a variety of other pilot programs to be developed and
integrated into the available clinical services. Through both of these areas the business hopes to
adapt to a self sustaining model while providing unprecedented educational experiences for its
students and benefiting the surrounding community.
Products and Services:
 Pharmacy. Our business will provide a full pharmacy and accept most major insurance
through the Walgreens point of sale. The pharmacy will provide compounding services as
well, and medications not in stock will be available to order.
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 Convenience items. The store will also make available a variety of convenience items
most appealing to a college student clientele. These items will include toiletries, OTC
medications, cosmetics, beer and wine, and others.
 Clinical services. Integrated into pharmacy operations will be a variety of clinical
services provided through both Walgreens and Butler COPHS. Immunizations, MTM,
new medication counseling, and other services will be promoted as an integral element to
our approach to a happy and healthy community.
 Pilot programs. As an innovative and educational business aimed towards advancing the
community pharmacy industry, a variety of pilot programs will be initiated and evaluated
at our on campus location. Programs will be designed by both students and corporate
Walgreens, and these will ultimately benefit patients.
Competitive Advantage:
The Butler Way Pharmacy by Walgreens is collaboration between Walgreens and Butler
University’s College of Pharmacy and Health Sciences (COPHS) that seeks to capitalize on the
relatively untapped consumer market that comprises the densely populated and relatively affluent
Butler University campus as well as the Butler-Tarkington neighborhood and surrounding
areas. The Butler Way Pharmacy envisions itself as both a center for experiential pharmacy
education and for innovative community pharmacy pilot initiatives. The pharmacy will bring
innovation to the traditional community pharmacy model with our customized design based on
practitioner, student, and consumer input will set us apart from the competition and lead us to
success.
Barriers to Entry:
While analyzing the market we have identified three of the main barriers to entry into the
pharmaceutical industry, and have identified ways in which The Butler Way Pharmacy can
overcome these barriers, and turn them into opportunities.
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The cost of capital involved in starting a new pharmacy is one of the largest barriers to
entry into the field. With up to $1.4 million in expected costs just to stock, staff, and maintain the
pharmacy, there is a lot of risk for potential investors.3,4
With the proposed business plan, The
Butler Way Pharmacy has an advantage over any other pharmacy trying to enter the market. A
collaboration with Butler University and Walgreens will put the pharmacy in a place to either be
solely funded by the corporations involved, or will attract investors to the prestigious names
involved.
Another barrier to entry is customer loyalty which is very evident in the pharmaceutical
industry. Existing businesses have a strong market advantage since they have built a strong
customer base. Part of The Butler Way Pharmacy’s advantage over its competitors in entering
the market is that its association with the Walgreens name. Brand loyalty that already exists with
the Walgreens name will only help to draw customers to the pharmacy. Additionally, The Butler
Way Pharmacy sets the stage for Walgreens to build customer loyalty among Butler Students
who are young consumers and have the potential to remain Walgreens consumers after they
leave Butler.
The third barrier we foresee is the regulatory law surrounding pharmacies. Adoption of
new pilot programs in the pharmacy may require addressing some unforeseen legal
obstacles. However, it will be helpful to have the legal resources of a large corporation like
Walgreens to aid us in overcoming these obstacles.
In overcoming these barriers, we will not only be successful, but will be actively put The
Butler Way Pharmacy in a position to deter competitors from entering the market. A
conveniently located pharmacy that has brand loyalty built in from a previously existing name
will be hard to compete with.
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Environmental-Impact Analysis:
Investment in green technology and green initiatives has already proven to be of great
importance to the Butler administration with new classrooms being built following national
Leadership in Energy and Environmental Design (LEED) criteria.2
We aim to continue their
investment in green initiatives by providing clearly marked recycling bins for cans, bottles, and
paper recycling as Butler does around campus already. Being part of Walgreens, we will also
plug into their drug take-back program and provide such services to our community as well.
Market Analysis
Industry Overview:
The community pharmacy industry includes over 28,000 retail pharmacies across the
United a States.4
As the industry seeks to redefine its clinical role while cutting pharmacy costs
and expanding revenue sources, The Butler Way Pharmacy will be a think tank by pharmacy
students and Walgreens corporate leaders to create and develop new strategies and services that
may be pivotal for the future of our community industry.
Market Size:
The target audience for our offering is increasing slightly. As the aim of the University's
5 year plan to grow enrollment by close to 15%, as well as the subsequent increase in faculty and
staff required to accommodate this enrollment growth, our market is expanding within the
University.5
Outside the University no change is market size is projected, however the baby
boomers generation has now reached the age that will result in a great increase in healthcare
spending. Clinical services developed by our pharmacy will absolutely target this population and
their healthcare needs to capture this increase in spending and change in overall market
conditions.
Target Market:
The Butler Way Pharmacy provides products and services to a novel blend of three major
target markets. The first group consists of the students of Butler University. This group includes
4,126 young adults between the ages of 18 and 24 (Appendix B).6
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The next target group consists of Butler University faculty and staff, and the families of
these employees. Butler University employees 593 instructional faculty members and close to
400 staff.
The final and largest target market consists of 21,298 residents in the Butler-Tarkington
Neighborhood.7
This target market is a unique combination of college aged students coming
from middle-upper class families and a surrounding community that is predominantly middle
class and working. The Butler Way Pharmacy offers products and services that guide these
people toward the universal goal amongst all of these groups, living a healthy and prosperous
lifestyle (Appendix B).
Customer Profile:
Our patient profile is actually a variety or profiles unique to our market, each of which
may be targeted specifically with varying marketing strategies.
Our first patient profile is the college student. Age is between 18-22, disposable income
is variable depending on individual family status (runs higher than average), and general health
is relatively good. These potential customers will buy goods simply based on convenience of
location since a large percentage does not have transportation. Additionally, health needs for this
young, relatively healthy customer will be limited to antibiotics, birth control, cosmetics, and
other convenience items. Insurance is mandated for this group by the University.
A second patient profile is the faculty and staff of the University. We estimate a median
age range for this group to be 35-55, though the population higher than this upper limit will be
especially important to capture as the relationship between increasing age and health is generally
proportional. This group will also benefit from the convenience of our business being at their
place of work. Needs for this group will generally include maintenance medications.
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The remaining patient profile will be defined as the general citizen population
surrounding campus. This customer is generally a working individual from the lower to middle
class and most interested in saving on health care costs. For this predominant reason, marketing
our services as healthy, long term, cost saving investments will be most successful for capturing
this patient.
SWOT Analysis:
The Butler Way Pharmacy
Strengths Weaknesses
 Location
 Affiliations with both Walgreens and
Butler University
 Convenience
 Delivery
 Student ideas
 New business model
 High starting capital
 Acquiring a license to sell beer and
wine on a college campus
Opportunities Threats
 Project may improve local health and
wellness
 Project will boost company's image with
future consumers and employees
 Technology improvements replacing
pharmacists
 Entry into the market because of
existing competitors
The Butler Way Pharmacy will be competitive because of its accessibility for students
and community members, including both a convenient location and delivery services. The new
business model may cause set-backs in the beginning months, but as the community begins to
understand the importance of an innovative pharmacy, The Butler Way Pharmacy will become
an important and vital source for community health.
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Competitor SWOT Analysis:
CVS stores at 56th
St. and Illinois St. and 38th
St. and Illinois St.
Strengths Weaknesses
 More pharmacy locations in the
Indianapolis area
 Product diversity
 Established customer base
 Doesn’t sell tobacco products
 Rundown locations
 Located in an neighborhood (38th
street) that many Butler students
consider unsafe
Opportunities Threats
 Large increases in populations with high
medication use (Baby Boomers retiring)
expected to continue for significant period
of time
 Multiple chain competitors in the
market
 Negative view of working
conditions/demands among employees
The main weakness of these stores in comparison to The Butler Way Pharmacy is their
location. The Butler Way Pharmacy is the only location of these three that a reasonable
consumer would consider within walking distance. Secondly, neither of these stores offers
prescription delivery as Butler Way Pharmacy does, distinguishing our operation from the
competition. The advantage that these stores have is their ability to sell hard liquor. The Butler
Way Pharmacy will emphasize the scientifically supported position that alcohol consumption can
have in a healthy lifestyle and will always advocate responsible consumption. However, this
may be a disadvantage that we will simply not be able to address effectively, and we will have to
make up the lost potential revenue through our other services.
Starbucks in Atherton Union
Strengths Weaknesses
 High traffic location on campus
 Early and late night hours for
students
 National brand recognition
 Has marketed themselves well as
third space already
 Space also used as student study/meeting
space – Educational events would tie up
this space
 Expensive products
Opportunities Threats
 Reaches a relatively young consumer
base which can lead to lifelong
customers
 Concerns over environmental
impact/human rights violations in coffee
growing operations
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The Starbucks in Atherton Union is a competitor with the “third space” that will be
located in The Butler Way Pharmacy. While Starbucks is in the center of campus, it has
expensive products, and can be noisy and distracting to students. The Butler Way Pharmacy will
offer a quiet space for the community to gather around topics that the pharmacy and other
student organizations find important in regards to personal and public health.
Target Pharmacy at 6101 North Keystone Avenue #200
Strengths Weaknesses
 Often perceived as less busy than a
typical CVS/Walgreens
 Wide selection of merchandise in
addition to pharmacy department
 Distance from campus/Butler-Tarkington
area
 Greater reliance on consistent revenue
streams
Opportunities Threats
 Greater diversity of merchandise may
entice consumers wishing to
consolidate errand trips (fuel expenses)
 High overhead costs of the big-box
model
The Target pharmacy on Keystone represents a “big-box” competitor to the Butler Way
Pharmacy. This pharmacy model incorporates full-scale retail options for the consumer rather
than simply convenience items, but at the cost of increased overhead. Increased fixed costs lead
to a greater reliance on consistent revenue that manifests as a decreased ability to weather
periods of below-average revenue. While Butler Way Pharmacy also has high fixed costs in the
form of rent and wages/salaries, its focus on education and community through its third space
Marketing Plan
Executive Summary:
The Butler Way Pharmacy strives to be a leader in innovative pharmacy services while
integrating education to create a happy and well community. The Butler Way Pharmacy is
committed to providing excellent healthcare services through outstanding customer service
interaction and cutting-edge programs. Located in the heart of the Butler-Tarkington
neighborhood, healthcare services will be convenient and accessible for Butler University
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students, faculty, and staff, along with the residents of the surrounding community. Society loves
furthering education and helping to shape the “future generation of America.” Customers will be
able to directly help mold the future pharmacists of American by coming into The Butler Way
Pharmacy and giving the students real-life experience with patients. Social media outlets will be
utilized to show customers deals, offers, and incentives to entice them to come into the store,
especially during the pharmacy’s infancy. The “third space” is an imaginative concept that The
Butler Way Pharmacy will offer at a level above and beyond what is available to customers at
the typical pharmacy. The Butler Way Pharmacy promises the greater Butler community that
they can count on us for outstanding, innovative, and educational healthcare services, delivered
with passion, caring, and integrity.
Unique Selling Proposition:
The Butler Way Pharmacy is an industry leading innovative pharmacy. The one-of-a-kind
collaboration between Butler University and Walgreens allows The Butler Way Pharmacy to
offer a unique mix of products and services that has not been seen in any other pharmacy before.
By being located within walking distance of the majority of the target market, customers will
enjoy convenience that will allow them to save time. The customers will have the opportunity to
support the Butler University College of Pharmacy and Health Sciences, allowing them to
directly provide real-life experience to the future pharmacists of their own community.
Customers will be able to have their prescriptions delivered right to their doorstep, at a small fee
of $5. Convenience items can be delivered to the home, but a prescription is required with the
order. The Butler Way Pharmacy features a cutting-edge “third space” that will be used for a
plethora of different activities, including healthcare instructional classes, meetings, and studying.
Pricing and Positioning Strategy:
With its prime location amongst the market, The Butler Way Pharmacy offers
accessibility and convenience that is unrivaled in the industry. The Butler Way Pharmacy offers
outstanding and the most innovative healthcare products and services to the greater Butler
community. The Butler Way Pharmacy will offer its products and services at an extremely fair
and competitive price, matching the price structure of Walgreen’s. This will include weekly sales
and promotions that are presented to the customers. Walgreen’s signature “Balance Rewards”
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program will also be available, allowing customers to earn points for all of their purchases, with
incentives coming at certain milestones. Customers will earn $5 for every 5,000 points, which
can be easily attained by having 10 prescriptions filled at the pharmacy.8
Distribution Plan:
The Butler Way Pharmacy will offer a variety of methods for customers to order and
receive their products and services. Prescribers will be able to send in prescriptions
electronically, by fax, or by telephone. Customers may bring in the hardcopy of the prescription
into the store. Customers have the opportunity to order prescription refills in-store, by phone,
online website, or via the mobile application. This offers patients convenience of being able to
pick the method that works best for them. The Butler Way Pharmacy’s delivery service allows
customers to have their items delivers right to their home, without any hassle to them at all. For a
fee of $5, prescriptions will be delivered directly to the patient’s door step. Convenience items
can be added to the order as long as there is at least one prescription in the delivery.
Deals and Offers:
There will be an increased number of deals and offers at the time of Grand Opening, to
help boost the initial flow of customer traffic. The first 100 customers that fill a script will be
entered into a drawing for a large prize (iPad, Xbox, or TV). This will be an extremely effective
incentive to get customers in the door. Each customer will receive a $5 gift card upon filling their
first prescription. The “Refer a Friend” program offers a $10 reward for a customer referring
another person into the pharmacy. A 20% off coupon for front-store items will be offered as an
incentive for customers to utilize the clinical services. The Butler Way Pharmacy will also offer
the same weekly sales and deals on products and services that are available at the other
Walgreens store locations.
Marketing Materials:
Social media will be the cornerstone of marketing and advertising for The Butler Way
Pharmacy. Accounts on various social media outlets including Twitter, Facebook, Instagram, and
Foursquare, will be heavily relied on. Promotional emails will be sent to customers that sign up
for our email service, alerting them of the deals and offers of the week. Fliers will be put up all
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around Butler University’s campus, throughout the Butler-Tarkington neighborhood, and around
Broad Ripple businesses. The popularity of the Butler Bulldogs Men’s Basketball will be utilized
as an opportunity for marketing by having an advertisement billboard inside of Hinkle
Fieldhouse, as well as using an advertisement on the new large screen scoreboard.
Promotion Strategy:
The Butler Way Pharmacy will utilize various marketing outlets to promote its
outstanding care and innovative health services offered to customers right in their own
community. Word-of-mouth will be a tremendous way to spread the word amongst customers,
especially college-aged students who can be easily influenced by the opinion of their peers.
Referrals will be a strong way of getting more customers into the store. The Butler faculty and
staff, as well as the residents of Butler-Tarkington, will be affected by the online reviews and
ratings of the pharmacy. Partnerships will be established with the Butler University College of
Business and College of Communication. This collaboration will improve aspects of website
design, public relations, and social media. The large prize drawing at the time of Grand Opening,
along with other deals and offers, will entice customers to walk through the pharmacy door and
become aware of the fabulous products and services offered by The Butler Way Pharmacy.
Online Marketing Strategy:
The Butler Way Pharmacy has a website that is fully interactive and stress-free for
customers to navigate and take full advantage of. The website will allow customers to easily
order refills from the comfort of their own home, or anywhere in the world with an internet
connection. Customers will be able to set up in-home delivery of their prescription and any other
convenience items they may require at that time. The website will provide a way for customers
to view the current deals and sales of the week. The website will also feature a “Customer
Reviews and Feedback” section that will allow customers to give ratings about their interaction
and experience at the Butler Way Pharmacy. Other customers will be able to view this honest
feedback. The website will allow customers to monitor their progress with the Balance Rewards
program, keeping them up-to-date on how many points they have earned and how many more
points they need to reach their next goal and earn a reward.
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Conversion Strategy:
The Butler Way Pharmacy will utilize multiple different strategies to convert potential
customers into long-term, loyal patients. The Butler Way Pharmacy will ensure customers are
aware of the company’s true values at the core of the business, and will live true and operate
every day in accordance with those values. People love furthering education and helping to shape
the “future generation of America.” Patients will be able to directly help mold the future
pharmacists of American by coming into The Butler Way Pharmacy and giving the students real-
life experience with patients. The deals, offers, and incentives to customers will entice them to
come into the store, especially in the infant days of the pharmacy. The Butler Way Pharmacy
will blow customers away with the level of excellent service provided. Customer service will be
a top-priority and will be outstanding to each and every customer, every interaction, of every
single day.
Operational Plan
Research and Development (R&D):
Our current R&D capacity would be limited in terms of in-house staff, but we foresee
collaborating with Walgreens to collect and analyze health data for short-term and long-term
purposes. These data could be used for adjustment of in-house protocols to maximize benefits
for patients while minimizing costs to the pharmacy. Data could also be shared with COPHS for
educational purposes.
Location:
The Butler Way Pharmacy will be located in the new retail space in the Butler University
parking garage which is currently under construction. We have developed layouts for several of
the available spaces to allow for flexibility during negotiations (Appendix A).
Address:
The Butler Way Pharmacy
4600 Sunset Ave.
Indianapolis, IN 46208
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Hours:
Hours of Operation:
Monday- Friday 9:00 a.m. – 9:00 p.m.
Saturday 10:00 a.m. – 11:00 p.m.
Sunday 10:00 a.m. - 9:00 p.m.
Pharmacy Hours:
Monday- Friday 9:00 a.m. – 9:00 p.m.
Saturday 10:00 a.m. – 6:00 p.m.
Sunday 10:00 a.m. - 5:00 p.m.
Per Indiana Code (IC 25-26-13-18), an application for a pharmacy permit must include “the
number of hours, if any, that the pharmacy will be open to the general public.”
Permits/Licensing:
A beer and wine liquor license will be obtained from the State of Indiana. Additionally,
the proper national, state, and local permits and licenses for Pharmaceutical operations will be
obtained with the help of Walgreens and Butler University. We will ensure that all of our
employees maintain adequate licensure for the duration of their employment.
Risk/Crisis Management:
 We will create crisis-management plans for online patient information and customer
credit card information in case of an online security breach in accordance with Butler
University and Walgreens.
 Butler University will retain insurance for all student workers or Pharmacy Interns.
 Walgreens maintains a program of Commercial Insurance and Self-Insurance to protect
the company. This insurance policy will extend to cover The Butler Way Pharmacy.9
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Financial Plan
The primary financial goal of Butler Way Pharmacy is to be a self-sustaining entity
within 4 years, meaning revenues exceed expenses, resulting in a positive net income. When
estimating potential revenues and expenses, conservativism and liberalism were utilized,
respectively. Efficient and effective accounting will be vital to the first few years of operation,
as said estimations are difficult to project and will need to be adjusted accordingly on a
consistent basis to meet the 4-year goal. In the interest of accuracy amid these difficulties, a
local Walgreens pharmacy manager was interviewed, and he provided an actual Walgreens
pharmacy monthly operating statement from which certain values were adapted, such as the cost
of goods sold value of 70%, utilities expenses, salaries/wages expenses, recommended FTE
values for the store size, and suggested fees for various pharmacy services.10
An initial
investment of $1.4 million by Walgreens is assumed, with all profits being retained by them.
Rental cost estimations were adapted from corporate rental space cost data from LoopNet.11
Projected financial statement data are listed below.
Balance Sheet
Year 1 Year 2 Year 3 Year 4 Year 5
Cash 50,000 100,000 150,000 200,000 250,000
Accounts receivable 100,000 200,000 300,000 400,000 450,000
Inventory 750,000 750,000 750,000 750,000 750,000
Prepaid rent (12 mo. * $25/sq. ft. * 3,000 sq. ft.)* 720,000 741,600 763,848 786,763 810,366
Prepaid insurance ($1000/mo.)* 12,000 12,360 12,731 13,113 13,506
1,632,000 1,803,960 1,976,579 2,149,876 2,273,872
Property, plant, and equipment 20,000 20,000 20,000 20,000 20,000
(Less accumulated depreciation) (2,000) (2,000) (2,000) (2,000) (2,000)
18,000 18,000 18,000 18,000 18,000
1,650,000 1,821,960 1,994,579 2,167,876 2,291,872
Accounts payable 926,800 1,454,364 1,796,315 1,941,474 1,973,113
Income taxes payable (pos. NI not expected until FY4) - - - 9,621 35,465
926,800 1,454,364 1,796,315 1,951,095 2,008,578
Owner's investment 1,400,000 723,200 367,596 198,264 216,781
Retained earnings (essentially NI) (676,800) (355,604) (169,332) 18,517 66,513
723,200 367,596 198,264 216,781 283,294
1,650,000 1,821,960 2,007,310 2,167,876 2,291,872
0.56 0.80 0.90 0.90 0.88
1.76 1.24 1.10 1.10 1.13
705,200 349,596 180,264 198,781 265,294
2.28 4.96 10.06 10.00 8.09
1.28 3.96 9.06 9.00 7.09
Working Capital (Current Assets - Current Liabilities)
Assets-to-Equity Ratio (Total Assets / Owner's Equity)
Debt-to-Equity Ratio (Total Liabilities / Owner's Equity)
Owner's Equity
Total owner's equity
Total Liabilities and Owner's Equity
Common Financial Ratios
Debt Ratio (Total Liabilities / Total Assets)
Current Ratio (Current Assets / Current Liabilities)
Total Assets
Liabilities and Owner's Equity (USD $)
Current Liabilities
Total current liabilities
The Butler Way Pharmacy
Assets (USD $)
Current Assets
Total current assets
Fixed (Long-Term) Assets
Total fixed assets
Year 1 Year 2 Year 3 Year 4 Year 5
Sales revenue 900,000 1,800,000 2,400,000 3,000,000 3,250,000
(Less sales returns and allowances) - 2% sales (18,000) (36,000) (48,000) (60,000) (65,000)
Service revenue (MTM) 200,000 400,000 500,000 625,000 700,000
(Less cost of goods sold [~70%/50%]) (730,000) (1,460,000) (1,930,000) (2,412,500) (2,625,000)
352,000 704,000 922,000 1,152,500 1,260,000
[42]
Advertising (500/mo.)* 6,000 6,180 6,365 6,556 6,753
Depreciation (10%/yr. on 20,000 of equipment) 2,000 2,000 2,000 2,000 2,000
Insurance (1,000/mo.)* 12,000 12,360 12,731 13,113 13,506
Office supplies (150/mo.)* 1,800 1,854 1,910 1,967 2,026
Rent (12 mo. * 25/sq. ft./mo. * 3,000 sq. ft.)* 720,000 741,600 763,848 786,763 810,366
Salaries and wages (2.5 RPh/Manager FTEs)* 275,000 283,250 291,748 300,500 309,515
Utilities (1,000/mo.)* 12,000 12,360 12,731 13,113 13,506
1,028,800 1,059,604 1,091,332 1,124,012 1,157,672
Net Income Before Taxes (676,800) (355,604) (169,332) 28,488 102,328
Income tax expense (35% est.) - - - 9,971 35,815
(676,800) (355,604) (169,332) 18,517 66,513
Income Statement
The Butler Way Pharmacy
Revenue (USD $)
Net Income
Gross Profit
Expenses (USD $)
Total Expenses
Cash Flow Statement
Cash at Beginning of Year 1,400,000 815,200 669,956 543,355 656,985
Year 1 Year 2 Year 3 Year 4 Year 5
Cash receipts from customers
1,200,000 2,400,000 3,200,000 4,225,000 4,550,000
Cash paid for
Inventory purchases (750,000) (1,500,000) (2,250,000) (2,992,500) (3,231,900)
Wage expenses (275,000) (283,250) (291,748) (300,500) (309,515)
Prepaid rent (720,000) (741,600) (763,848) (786,763) (810,366)
Prepaid insurance (12,000) (12,360) (12,731) (13,113) (13,506)
Advertising (6,000) (6,180) (6,365) (6,556) (6,753)
Office supplies (1,800) (1,854) (1,910) (1,967) (2,026)
Income taxes - - - (9,971) (35,815)
Net Cash Flow, Operations (564,800) (145,244) (126,601) 113,630 140,119
(No anticipated cash receipts)
Cash paid for
Purchase of property and equipment (20,000) - - - -
Net Cash Flow, Investing Activities (20,000) - - - -
Financing Activities (USD $)
(No anticipated cash receipts/payments)
Net Increase in Cash (584,800) (145,244) (126,601) 113,630 140,119
Cash at End of Year 815,200 669,956 543,355 656,985 797,104
Template adapted from Vertex42 LLC (http://www.vertex42.com)
The Butler Way Pharmacy
Operations (USD $)
Investing Activities (USD $)
Operations (USD $)
Investing Activities (USD $)
25
References
1. "Company Information | Walgreens." Walgreens. N.p., n.d. Web. 18 Apr. 2015.
<http://www.walgreens.com/topic/about/company.jsp>.
2. "Butler Goes Green." Butler Sustainability. N.p., n.d. Web. 18 Apr. 2015.
<http://legacy.butler.edu/butler-goes-green/>.
3. " Start a Pharmacy" Small Business. N.p., n.d. Web. 18 Apr. 2015.
<http://smallbusiness.chron.com/much-money-required-start-pharmacy-12266.html>.
4. "Topic: Drug Store/Pharmacy Market in the U.S." www.statista.com. N.p., n.d. Web. 18 Apr.
2015. <http://www.statista.com/topics/1412/drug-store-pharmacy-market-in-the-us/>.
5. "Butler 2020 Progress." Butler.edu. N.p., 23 Jan. 2015. Web. 18 Apr. 2015.
<https://www.butler.edu/president/butler-2020-progress>.
6. "Best Colleges | College Rankings | US News Education - US News." US News RSS. N.p.,
n.d. Web. 18 Apr. 2015. <http://colleges.usnews.rankingsandreviews.com/best-colleges>.
7. "Butler-Tarkington." Point Homes. N.p., n.d. Web. 05 Apr. 2015.
<http%3A%2F%2Fwww.point2homes.com%2FUS%2FNeighborhood%2FIN%2FIndian
apolis%2FButler-Tarkington.html>.
8. "Balance® Rewards." Balance Rewards. N.p., n.d. Web. 18 Apr. 2015.
<https://www.walgreens.com/balancerewards/balance-rewards.jsp>.
9. "Insurance and Risk Management | Walgreens." Walgreens. N.p., n.d. Web. 18 Apr. 2015.
<http://www.walgreens.com/topic/about/insurance/management.jsp>.
10. "Walgreens Operations and Financials." Personal interview. 10 Feb. 2015.
11. “Properties in Indianapolis.” LoopNet. Web. 19 Apr. 2015. <http://bit.ly/1cJaLBE>.
26
Appendices
Appendix A. Store Location and Layout
Figure 1. Street view of the new parking structure and ideal location for The Butler Way
Pharmacy.
27
Figure 2. Sky view of parking structure and retail space with the surrounding campus and
community.
Figure 3. Schematic of parking structure location, includes parking for retail space in the bottom
center of the image.
28
Figure 4. Floor plan for parking structure and retail space.
Figure 5. Floor plan for The Butler Way Pharmacy if located on the corner retail space. Rx
designates the pharmacy location within the store. Convenience designates the convenience
products location in the store. MPR designates the multipurpose room which will be the “third
space” discussed in the business plan.
29
Figure 6. Floor plan for The Butler Way Pharmacy if located in a different available space. Rx
designates the pharmacy location within the store. Convenience designates the convenience
products location in the store. MPR designates the multipurpose room which will be the “third
space” discussed in the business plan. Note: the space is only part of the 6,000 S.F. retail space.
Appendix B. Demographics for the Butler-Tarkington Area6,7
Butler-Tarkington Population Demographics
Total Population 21,298
Male Population 9,980
Female Population 11,317
Percent Change Since 2000 -12.3 %
Percent Change Since 2010 1.9 %
Median Age 31.62
30
Occupational employment in Butler-Tarkington
White Collar 4,230
Blue Collar 2,272
Number of Households in Butler-Tarkington
Total Households 8,349
Family Households 4,214
Non-family Households 4,135
Households With Children 2,353
Households Without Children 5,996
Average People Per Household 2.23
Butler-Tarkington Education Statistics
No High School 513
Some High School 1,643
Some College 2,817
Associate Degree 728
Bachelors Degree 1,965
Graduate Degree 1,610
Household Income and Average Income in Butler-Tarkington
Median Income Under 25 $18,417
Median Income 25-44 $34,463
Median Income 45-64 $36,274
Median Income Over 65 $38,913
Craig Fisher
802 Berkley Road, Indianapolis, IN 46208
ctfishe1@butler.edu | 317.682.8928 (mobile)
www.linkedin.com/in/craigfisher317 | follow@craigfisher317
PROFESSIONAL OBJECTIVE
Biographical Statement: Craig is a third year professional Doctor of Pharmacy student
at Butler University in Indianapolis, Indiana (completing doctorate degree in six total
collegiate years). Pursuing an impactful career for patients and the pharmacy profession
is important for Craig, and his continued hope is to identify career paths that may utilize
his unique skills and interests to advance pharmacy and provide these patient services.
An Indianapolis native, Craig also finds rewarding his extensive University and community
engagement.
Personality Assessments:
Strengths Finder ®: Futuristic, Strategic, Activator, Maximizer, Achiever
DiSC ® Profile Pattern: Objective Thinker
 Description: Logical, exact, reserved
 Goals: Being correct and accurate
The Holland Theory: Enterprising, Conventional, Social
EDUCATION
Doctor of Pharmacy (candidate) Expected May 2016
Butler University, Indianapolis, IN
GPA: 3.0
Elective Coursework:
 Entrepreneurship in Life Sciences
o Introduced to the process of building business plans and developed a
new business plan using writing and networking skills
o Gained exposure to healthcare and professional business
owners/consultants, entrepreneurs, and leaders in life sciences
o Developed awareness of and ability to lead with an ownership mindset
and to be an agent of change, starting with self-awareness
 Nutritional Support
 Medical Anthropology
LICENSURE & CERTIFICATIONS
APhA Pharmacy-Based Immunization Delivery certificate Dec. 2014-Present
CITI Human Subjects Research Training Sept. 2014-Present
American Heart Association Basic Life Support (CPR and AED) April 2014-Present
State of Indiana Pharmacy Intern Aug. 2012-Present
License Number: 45017697A
Fisher CV Page 2
INTRODUCTURY PHARMACY ROTATIONS/INTERNSHIPS
Institutional Practice – Hancock Regional Hospital,
Greenfield, IN Aug. 2014
Preceptor: Tim Livesay, PharmD
Community Practice – Walgreens Boots Alliance Inc.
Store #02798, Indianapolis, IN Dec. 2012
Preceptor: Sheetal Mistry, PharmD
WORK EXPERIENCE
Walgreens Boots Alliance Inc.
 Community Pharmacy Intern 2013-Present
 Completed the Walgreens Community Pharmacy Internship Program as one
of eleven student pharmacy interns for the Indianapolis, IN market (May-Aug.
2013)
 Gained realistic community retail experience through counseling, screening,
workflow, operational, and managerial exercises
 Improved patient care by refining problem-solving and communication skills
 Demonstrated outstanding workplace professionalism and performance
 Corporate Pharmacy Intern May-Aug. 2014
 Completed the Walgreens Corporate Pharmacy Internship Program as one
of two student pharmacy interns at Walgreens Corporate Headquarters in
Deerfield, IL
 Lead the development of a risk assessment system for Walgreens dispensed
narrow therapeutic index (NTI) medications and presented a corresponding
patient safety strategy to the company’s executive leadership team
 Assisted in making and communicating enterprise-wide decisions while
completing rotations with Pharmacovigilance/Quality Assurance, Pharmacy
Process Optimization, and Pharmacy Regulatory Affairs business units
 Advised teams of undergraduate business interns in case studies and
competitions
Butler University Office of Admission
 Student Assistant 2013-Present
 Managed recruitment projects as especially assigned by professional staff
 Hosted University VIP guests, visitors, perspective students and their families
in a variety of professional capacities (presentations, campus tours, etc.)
 Leading programs for hiring and training of undergraduate student employees
 Assumed confidentiality for activities of the Office of Admission
 Student Ambassador 2011-2013
WORK EXPERIENCE (continued)
Lifeguard, Health and Recreation Complex, Butler University 2011-2012
Fisher CV Page 3
Manager, Aquatic Facility at Eagle Creek Park,
Indianapolis, IN April-Aug. 2012
 Supervised staff daily in outstanding customer service and professionalism
 Managed facility and waterfront safety regulation
 Assumed fiscal responsibilities including cash handling and deposits
TEACHING EXPERIENCE
Mentor, Emerging Leaders Program, Butler University 2013-Present
 Trained in leadership development exercises and teamwork principles
 Served as an individual mentor for three students three semesters
 Served as a large group mentor for three semesters
Student Orientation Guide, Welcome Week Programs,
Butler University 2011-2013
 Welcomed and oriented more than 50 incoming new students in small groups
over three years
 Assisted in the overall programming of the new student orientation
LEADERSHIP & COMMUNITY SERVICE
Butler University College of Pharmacy and Health Sciences (COPHS)
 Founding Project Leader, BU Well Journal 2015-Present
 Creating the vision and direction for the first open access multimedia
healthcare review journal driven by students and supported by a multi-year
Butler University Innovation Fund grant
 Overseeing promotional, policy, student participation, sustainability, and
training teams of nearly 30 student editors and writers and their foundational
work towards the first annual volume in 2016
 To learn more about this first of its kind student driven healthcare review
journal, visit http://digitalcommons.butler.edu/peer_review_list.html, or follow
on Twitter at https://twitter.com/BUWellJournal (@BUWellJournal)
 Walgreens Student Leadership Board, Butler University 2014-Present
 Developed student leadership skills that are directly beneficial in community
practice pharmacy including personnel management and program
development
 Participated in and facilitated personal and professional growth opportunities
to support students’ career paths
 Provided networking opportunities between students, pharmacists and other
Walgreens leadership
Fisher CV Page 4
LEADERSHIP & COMMUNITY SERVICE (continued)
 Student Services Advisory Committee 2014-Present
 Selected as one of five COPHS students to serve in an advisory capacity to
the Assistant Dean for Student Affairs and the COPHS Student Affairs Office
 Support opportunities for co-curricular programming which facilitate
interaction between Physician Assistant and Pharmacy students, and
interface with the Interprofessional Education and other Committees as
appropriate to further enhance co-curricular participation
 Track current student leadership activities and develop and implement new
student leadership activities
 Phi Lambda Sigma Pharmacy Leadership Society (Pi
Chapter at Butler University) Elected 2014
 Social Committee Chair, Phi Delta Chi Professional
Pharmacy Fraternity (Alpha Phi Chapter at Butler
University) 2013-Present
 Volunteer, Butler University Community Outreach Pharmacy 2013-Present
 Vice President, Butler University Class of 2016 2012-Present
 President & Founder, Butler University Pre-Pharmacy Club 2012
Butler University Student Government Association
 Student Body & SGA President 2013-2014
 Created the vision and direction for Student Life and SGA at Butler University
 Lead the Executive Board and their work with over 100 students in daily
operations and programming for Student Life
 Managed an annual budget of greater than $750,000 in student fees
 Chaired the weekly Student Assembly of over 150 representatives
 Assigned and oversaw student representation to various university entities,
including subcommittees for the Board of Trustees, administrative personnel
search committees, and for special ad hoc committees, among others
 Represented and advocated for officially adopted student positions, including
opposition to Indiana HJR-3, support for additional amendments to the
Indiana Lifeline Law, support for the federal Collegiate Housing and
Infrastructure Act, and support for green initiatives for the City of Indianapolis
 Partnered with the Indianapolis Bar Association and the Indiana Youth
Services Association to lead a campus-wide project to raise awareness of
Indiana’s Lifeline Law for Butler students
 On behalf of Butler students, personally received to campus author Maya
Angelou, Archbishop Desmond Tutu, Academy Award winning director Lee
Daniels, former First Lady Laura Bush, and Academy Award winning actress
Marlee Matlin, among others
Fisher CV Page 5
LEADERSHIP & COMMUNITY SERVICE (continued)
 Student Representative, Butler University Board of
Trustees 2012-2014
 Full Board (2013-14)
 Student Affairs standing committee (2013-14)
 Enrollment standing committee (2012-13)
 Alcohol Task Force for Student Affairs 2012-2014
 Appointed as one of four students to serve by researching and contributing to
discussions related to potential changes to the University alcohol policy
 Assisted in directly reporting the immensely positive results of our work to the
Vice President of Student Affairs
 Parliamentarian 2012-2013
 Representative, SGA Student Assembly 2011-2012
Sigma Nu Fraternity (Epsilon Mu Chapter at Butler University)
 Historian 2013-2014
 Vice President 2012
 Created the vision and direction for the largest fraternity chapter at Butler
University
 Organized the annual chapter report credited for national recognition,
including one of eight Rock Chapters by the national fraternity and one of five
Chapter Awards of Distinction by the North American Interfraternity
Conference for chapter excellence, among others
 Directly supervised the leadership and operations of all functional chapter
committees
 Chaired the conduct review board and served as parliamentarian for the
chapter
 High Council Nominating Committee, Sigma Nu
Fraternity Grand Chapter July 2012
 Appointed as one of four collegiate members to serve on the committee for
the 2012 national conference in Dallas, TX
 Interviewed and nominated the slate of alumni candidates for election to the
High Council Board of Directors for the National Fraternity
Alumni Task Force, Brebeuf Jesuit Preparatory School 2014-Present
Mentor, Emerging Leaders Program, Butler University 2011-Present
Uniform Chair, Butler University Basketball Band (Trumpet) 2012-2013
Student Orientation Guide, Welcome Week Programs,
Butler University 2011-2013
Butler University Student Conduct and Appeals Board 2011-2013
Order of Omega Greek Honor Society (Nu Upsilon Chapter
at Butler University) Elected 2012
Fisher CV Page 6
PRESENTATIONS
Fisher, C. Corporate Pharmacy Intern Presentation for Walgreens Boots Alliance Inc.
Executive Leadership. Oral Presentation. “Patient Safety Strategy for Narrow
Therapeutic Index Medications.” (Aug. 2014)
CONFERENCES ATTENDED
Undergraduate Research Conference, Butler University,
Indianapolis, IN April 2014
HONORS & AWARDS
Alpha Alumni Chapter Affiliate, Sigma Nu Fraternity, Inc. July 2014
Recognizing the ten most outstanding seniors each year, "The [national] Fraternity
salutes those Knights who demonstrate a genuine commitment to the ideals of the
Legion of Honor and whose pattern of performance is a worthy example for others
to follow."
Walgreens Diversity & Inclusion Excellence Scholarship July 2014
"Each year, Walgreens is pleased to recognize one student pharmacist from each
pharmacy school with the Walgreens Inclusion Excellence Scholarship. The award
is given to the student who has best embraced diversity and promoted diversity
and inclusion awareness initiatives on campus."
Lobraico Scholarship, Butler University June 2014
“The Frank A. Lobraico Scholarship Fund was established in memory of Frank
Lobraico. The scholarship, based on merit, is awarded to a third-year student in
the College of Pharmacy and Health Sciences who is interested in pursuing a
career in community pharmacy.”
Greek Man of the Year, Butler University April 2014
"The Greek Man of the Year Award is presented to the fraternity member who has
excelled in all areas and who has served as a positive role model in the Greek
community."
Top 100 Student & Top 10 Most Outstanding Men,
Butler University April 2014
"Since 1961, the [Butler Top 100 Student] program has honored those students
who, through campus leadership, community involvement and academic
performance are great assets to our University. The students honored each year
continue the tradition of dedication and service to Butler. They reflect outstanding
character, scholarship, engaged citizenship, leadership and commitment to
fostering diversity."
Fisher CV Page 7
HONORS & AWARDS (continued)
Knight of the Year, Sigma Nu Fraternity (Epsilon Mu
Chapter at Butler University) April 2013
“Recognizes the brother who has demonstrated outstanding character most
notably with a focus beyond the chapter for Greek Life, Butler University, and/or
the larger community"
Vigil Honor, Order of the Arrow National Honor Society,
Boy Scouts of America Sept. 2009
“Reserved for those Arrowmen who, by reason of exceptional service, personal
effort, and unselfish interest, have made distinguished contributions beyond the
immediate responsibilities of their position of office to one or more of the following:
lodge, Order of the Arrow, Scouting community, Scout Camp."
Eagle Scout, Crossroads of America Council,
Boy Scouts of America Aug. 2009
"To earn the Eagle Scout rank, the highest advancement rank in Scouting, a Boy
Scout must fulfill requirements in the areas of leadership, service, and outdoor
skills."
Kelly Jay
kjay@butler.edu
(847) 224-6278
Permenant Address Current Address
8 Hawley Court 5801 N. Olney St. #11
Grayslake, IL 60030 Indianapolis, IN 46220
EDUCATION
Doctorate of Physical Therapy May 2018
Indiana University, Indianapolis, IN
Coursework begins August 2015
Bachelor of Science in Biology May 2015
Butler University, Indianapolis, IN
Minor: Health Care Management
GPA: 3.8/4.0
Coursework Included: Health Care Administration, Human Anatomy and Physiology, Health Care Economics,
Medical Terminology, Entrepreneurship in Life Sciences
Honors: Dean’s List Fall 2013, Butler University Top 100 Student Recognition 2014-2015, and Blue Key
National Honors Fraternity 2013-2014
CERTIFICATIONS
BLS for Health Care Providers, American Heart Association January 2015
CPR/AED, American Red Cross May 2013–Present
EXPERIENCE
Physical Therapy Aide September 2014–Present
Carmel Rehab, Carmel, IN
 Assist Physical Therapist with patient care by explaining and supervising exercises
 Create a comfortable and productive environment for patients to facilitate quality rehabilitation
 Listen to patients and communicate concerns with the therapist on site to unsure quality care
 Schedule appointments to optimize patient and therapist time
Volunteer August 2013–Present
A Caring Place, Indianapolis, IN
 Facilitate exercises for 20 elderly individuals to enhance daily activity
 Converse with clients whom have dementia, cognitive, and physical disabilities to provide personal
attention and stimulation
 Observe and assist a Physical Therapist with fall prevention and walking programs in an effort to keep
clients living in their homes
 Encourage clients to participate in daily programming to avoid sedentary lifestyles
Physical Therapy Volunteer January 2014–May 2014
St. Vincent Hospital, Indianapolis, IN
 Observed Therapists in a variety of settings to gain experience in the physical therapy field
 Interacted with patients and therapists to understand why certain treatments were provided
 Prepared supplies and equipment for therapists to achieve efficiency
Medical Volunteer May 2014
Timmy Global Health, Xela, Guatemala
 Enhanced language proficiency by communicating with locals in their native language
 Developed a broader understanding of and commitment to global health disparities
 Collected basic health information for patients arriving at the clinic to create complete medical charts and
efficiency for doctors providing care
 Administered fluoride treatments to 50 children ages 6 months to 13 years to improve oral health
EXPERIENCE
Advocate for Community Engagement January 2014–Present
Butler University, Indianapolis, IN
 Coordinate relationships between Butler University and community partners for service learning courses
 Supervise Butler students at community sites to ensure they contribute in useful and productive ways
 Schedule students for 20 hours of service to enable them to complete their service learning requirement
 Correspond with Butler University faculty to report on student participation in service
Aquatic Center Manager Summer 2013, 2014
Village of Grayslake, Grayslake, IL
 Trained 32 lifeguards each year in CPR, first aid, rule enforcement and aquatic rescues to ensure the
safety of everyone in the facility
 Served as a liaison between the aquatic center and the Village of Grayslake to facilitate operations that are
aligned with village procedures and goals
 Addressed concerns of aquatic center guests and parents to provide solutions that maintained customer
satisfaction
 Supervised and scheduled 60 employees to ensure adequate staffing at all times
 Achieved 5-star manager and facility status in each of 4 safety audits
RESEARCH
Butler University, Indianapolis, IN January 2014-May 2014
 The Role of Misshapen and its Homolog in Cytoskeleton Regulation
LEADERSHIP AND COMMUNITY SERVICE
President, Alpha Phi, Epsilon Beta Chapter January 2014–January 2015
 Revitalized goals for the chapter to ensure overall health and growth in accordance with Alpha Phi
Internationals
Student Orientation Guide, Butler University Fall 2014
 Introduced new students to Butler University and all of its available resources
Assistant Director to Formal Recruitment, Alpha Phi, Epsilon Beta Chapter January 2013–January 2014
 Selected new members who advocate for the values of Alpha Phi
Assistant Youth Soccer Coach, Grayslake Soccer Camp Summer 2011, 2012, 2013
 Coached 50 children grades 1 through 8 in drills to develop soccer competencies and confidence
Treasurer, Women’s Club Soccer, Butler University October 2011–January 2013
 Managed finances for the club, including paying referees and collecting dues to ensure the club’s future
Team Captain, Relay for Life July 2007–May 2013
 Organized team members and fundraising events to support cancer research
Biology Professor Selection Committee, Butler University Fall 2012
 Assisted in interviewing a new biology professor to provide student input to the hiring committee
Kelly Jay
kjay@butler.edu
5801 N. Olney St. 311, Indianapolis, IN 46220
(847) 224-6278
REFERENCES
Dr. Chuck Combs, DPT
Physical Therapist, Carmel Rehab
154 West Carmel Drive
Indianapolis, IN 46032
(317) 818-0404
carmelrehab@att.net
Kevin Timony
Assistant to the Village Manager, Village of Grayslake
10 South Seymour Avenue
Grayslake, IL 60030
(847)223-8515
ktimony@villageofgrayslake.com
Professor Donald Braid, PhD
Director, Center for Citizenship and Community, Butler University
4600 Sunset Ave
Indianapolis, IN 46208
(317) 940-8353
dbraid@butler.edu
Dr. Alison Solomon, DPT
Senior Physical Therapist/Clinical Education Coordinator,
Advocate Condell Rehab Services, Centre Club Gurnee
1405 N. Hunt Club Rd.
Gurnee, IL 60031
(847) 855-2890
allison.solomon@advocatehealth.com
Jennifer Kowalski, PhD
Assistant Professor, Department of Biological Sciences, Butler University
4600 Sunset Ave
Indianapolis, IN 46208
(317) 940-8879
jrkowals@butler.edu
Ryan J. Junkins
Local: 827 W. 44th Street  Indianapolis, IN 46208  (502) 548-5580
Permanent: 4210 Shetland Court  New Albany, Indiana 47150  (812) 948-1036
E-Mail: rjunkins@butler.edu
OBJECTIVE
To obtain a position in a pharmacy setting that will showcase my passion for helping others, my
outgoing personality, and my knowledge of the business world.
EDUCATION
Doctor of Pharmacy Degree May 2017
Butler University Indianapolis, IN
Master of Business Administration May 2017
Butler University Indianapolis, IN
High School Diploma May 2010
New Albany High School New Albany, IN
Coursework: Biochemistry, Pathophysiology, Pharmaceutical Care I, Anatomy, Physiology,
Organic Chemistry, Microbiology, Ethics in Healthcare, Corporate Finance, Economics,
Accounting, Marketing, and Organizational Behavior
Worthy Master at Arms of Phi Delta Chi Professional Pharmacy Fraternity, Member of Sigma Nu
Fraternity, Member of Butler Investments Group, Member of National Honor Society,
Horseshoe Scholarship Award Winner
WORK EXPERIENCE
Pharmacy Intern May 2012 - Present
CVS Pharmacy
 Worked diligently as a member of the pharmacy team to provide every patient with the
appropriate drug regimen as prescribed
 Responsibly handled and counted prescription medications
 Respectfully interacted with customers to provide a pleasant and efficient transaction
Sales Consultant May 2008 – February 2012
Best Buy Company
 Delivered outstanding customer service to each customer while completely resolving
any issues they had
 Handled extremely important customer information while running their credit report
 Named Most Valuable Employee for outstanding customer service
 Trained many employees that entered the same position
LICENSES
Pharmacy Intern License License No: 45017658A
Indiana Board of Pharmacy Expiration Date: May 2014
Ian J. Ray
Curriculum Vitae – April 18, 2015
ianray42@gmail.com
7135 English Birch Lane, Indianapolis, IN 46268
Cell: 317.361.7530
Biographical Statement: Ian Ray is a third-year Doctor of Pharmacy candidate at
Butler University College of Pharmacy and Health Sciences, class of 2016. He is also
on track to graduate with a Bachelor of Arts in Spanish Language, a Medical Spanish
Emphasis, and a minor in chemistry. Ian is involved in a multitude of on-campus
organizations, most notably Kappa Psi Pharmaceutical Fraternity, Phi Lambda Sigma
Pharmacy Leadership Society, Butler University Academy of Managed Care Pharmacy,
and Butler Student Association of Pharmacy, all of which have benefited from having
him as an executive board member. He is originally from Indianapolis, IN and has a
passion for science, technology, and the Spanish language. Ian is an extremely driven
person, and he grows more fascinated each day by the possibilities that he believes
technology and the sciences in particular will hold for humankind.
Personality Assessments:
StrengthsFinder® 2.0 Top 5: Intellection, Command, Learner, Ideation, Focus
DiSC Profile Pattern: Objective Thinker
Myers-Briggs Type: INTJ
EDUCATION
Doctor of Pharmacy (candidate) ......................................... Expected May 2016
Butler University, Indianapolis, IN
Minor: chemistry
Medical Spanish Track
University Honors Program
GPA: 3.92/4.00
Study Abroad Program ................................................. August-December 2011
Universidad de Alcalá, Alcalá de Henares, Madrid, Spain
GPA: 4.00/4.00
Coursework: Advanced Spanish Language, Spanish History Through Film,
Artistic Connections between Latin America and Spain, Spanish Phonetics
Bachelor of Arts in Spanish ............................................... Expected May 2016
Butler University, Indianapolis, IN
GPA: 4.00/4.00
Ray CV Page 2
LICENSURE & CERTIFICATIONS
Comparative Effectiveness Research (CER) Certificate...... April 2015-Present
CER Collaborative/University of Maryland School of Pharmacy
State of Indiana Pharmacy Intern .............................. September 2012-Present
License Number: 45017751A
Basic Life Support ................................................................ June 2013-Present
American Heart Association
First Aid, CPR, AED for Professional Rescuers ................. April 2008-Present
American Red Cross
LANGUAGES
 Professional working proficiency in medical and conversational Spanish
INTRODUCTORY PHARMACY ROTATIONS/INTERNSHIPS
Community Practice—Walgreen Co. Store #2798, Indianapolis, IN ...... May 2013
Preceptor: Sheetal Mistry, PharmD
 Enabled communication between pharmacy staff and monolingual
Spanish-speaking customers frequently
 Provided cholesterol counseling
 Provided blood pressure recording, monitoring, and counseling
 Compounded extemporaneous oral suspensions, oral solutions,
and topical ointments
 Compiled and designed a brochure entitled “Over-the-Counter Pain
Medication: What You Should Know” to enhance patient
understanding of the risks and benefits of currently marketed OTC
analgesic medications
Institutional Practice—IU Methodist Hospital, Indianapolis, IN...... May-Aug. 2014
Preceptors: Amy Coffing, PharmD and Jeff Filotei, PharmD
 Compounded sterile IV admixtures
 Broadened knowledge of ASHP IV Sterile Room Procedures
 Improved workflow among techs through flexibility in IV room skills
Ray CV Page 3
WORK EXPERIENCE
Pharmacy Intern—St. Vincent Heart Center, Indianapolis, IN.. Aug. 2012-Present
Supervisor: Kenneth Menser, RPh
 Counseled patients on drug information, drug interactions, and
potential lifestyle changes with a focus on anticoagulants and
cardiac medications
 Streamlined and coordinated workflow among technicians, interns,
and pharmacists to assure timeliest and highest quality patient care
 Assisted pharmacists as well as worked independently in drug
preparation, including sterile and non-sterile compounding and IV
admixtures
 Utilized aseptic technique in laminar airflow workbenches (LAFWs)
and compounding aseptic isolators (CAIs)
 Coordinated medication stock using Pyxis® 4000 Medication
Management systems and Pyxis CII-Safe® systems
TEACHING EXPERIENCE
Student Tutor, The Rho Chi Society ....................................... Jan. 2014-Present
 Responded to student questions through email concerning a wide
range of topics in both the Introduction to Dosage Forms and
Principles of Drug Action II courses at Butler University
Lab Assistant, Butler University ......................................... Jan. 2014-May 2014
 Supervised 31 Butler University students in the first year of the
professional phase of the pharmacy program during the laboratory
section of the Introduction to Pharmaceutical Care 2 course at
Butler University
 Instructed students on various concepts of sterile compounding,
including industry terminology, aseptic technique, and proper use
and handling of IV dosage forms (premixes, LVPs, IVPBs)
Spanish Language Tutor, Butler University ......................... Sept. 2013-Present
 Tutored Butler University students in Spanish, including grammar,
syntax, vocabulary, cultural competence, study techniques, and
language learning strategies
Ray CV Page 4
LEADERSHIP & COMMUNITY SERVICE
Medication Therapy Consultant, BU Comm. Outreach Pharmacy ...2015-Present
Secretary-Treasurer, Butler University PharmD Class of 2016 .........2014-Present
Secretary, Butler University Academy of Managed Care Pharmacy .. 2014-Present
ASHP Liaison, Butler Student Association of Pharmacy ................. 2014-Present
Volunteer, Butler Community Outreach Pharmacy .......................... 2013-Present
Student Government Representative, Phi Lambda Sigma................ 2013-2014
Secretary, Phi Lambda Sigma Pharmacy Leadership Society............... 2013-2014
Member, Mortar Board National College Senior Honor Society ............... 2013-2014
Member, Order of Omega Greek Leadership Honor Society ............... 2012-2014
Academic Committee, Sigma Nu Fraternity........................................ 2011-2014
Recording Secretary, Kappa Psi Pharmaceutical Fraternity................. 2012-2013
Volunteer, A Caring Place Adult Day Center ............................................... 2012
Volunteer/Fundraiser, Special Olympics Indiana – “Polar Plunge” ............. 2012
Volunteer, Habitat for Humanity of Greater Indianapolis............................... 2013
Volunteer, U.S. Dream Academy.................................................................. 2012
Volunteer, Ransburg Scout Reservation.............................................. 2012/2013
Volunteer/Fundraiser, American Cancer Society Relay for Life .. 2011/2012/2013
Volunteer, Gleaners Food Bank of Indiana................................. 2010/2012/2013
PUBLICATIONS
To be determined.
PRESENTATIONS
Brodeur, L., Ray, I., Howard, B., Vermillion, N. Advanced Dosage Forms course,
Butler University College of Pharmacy & Health Sciences. Oral presentation.
“Zecuity Iontophoretic Transdermal System.” (March 2014).
Richardson, R., Ray, I., Vermillion, N., Lamonica, J., Pham, P., Clark, A.
Delivery of Health Care course, Butler University College of Pharmacy & Health
Sciences. Oral presentation. “How Should Pharmacists Document Continued
Competence to Practice?” (April 2013).
GRANTS FUNDED
B. Howard, M. Vitale, and I. Ray, Co-Investigators. Butler University Dean’s
Fund: “Butler University Academy of Managed Care Pharmacy Student Chapter:
Leadership Development.” $4,400 (November 2014).
Ray CV Page 5
CONFERENCES ATTENDED
Academy of Managed Care Pharmacy................................................April 2015
27th
Annual Meeting & Expo
San Diego, CA
Kappa Psi Pharmaceutical Fraternity ........................................... October 2013
Mid-America Province Fall Conclave
Purdue University, West Lafayette, IN
Kappa Psi Pharmaceutical Fraternity ......................................... February 2013
Mid-America Province Spring Conclave
University of Kansas, Lawrence, KS
Kappa Psi Pharmaceutical Fraternity ..................................... September 2012
Mid-America Province Fall Conclave
St. Louis College of Pharmacy, St. Louis, WI
Kappa Psi Pharmaceutical Fraternity ................................................ April 2012
Province V Spring Assembly
University of Wisconsin, Madison, WI
HONORS & AWARDS
Dean’s List (semesterly), Butler University ..................................... 2010-Present
A.J.W. LeBien Scholarship, Butler University.............................................. 2014
Indiana Freedom of Choice Grant, State of Indiana ................................... 2014
Indiana Academic Honors Incentive, State of Indiana ............................... 2014
Academic Scholarship, Sigma Nu Fraternity..... Fall ‘11/12/13, Spring ‘12/13/14
Top 10 Men, Butler University ....................................................................... 2013
Scholar of the Year, Sigma Nu Fraternity .......................................... 2012/2013
Recognition Award, The Rho Chi Society .................................................. 2013
Pledge Scholar of the Year, Sigma Nu Fraternity ....................................... 2011
Honors Program Member, Butler University .................................. 2010-Present
Freshman Academic Scholarship, Butler University ..................... 2010-Present
Robert C. Byrd Honors Scholarship, U.S. Dept. of Ed. .................... 2010-2014
Ray CV Page 6
PROFESSIONAL ASSOCIATIONS
Academy of Managed Care Pharmacy (AMCP) ........................... 2014-Present
The Rho Chi Society....................................................................... 2014-Present
American Pharmacists Association (APhA) ................................ 2013-Present
American Society of Health-System Pharmacists (ASHP) ......... 2013-Present
Phi Lambda Sigma Pharmacy Leadership Society ..................... 2013-Present
Mortar Board National College Senior Honor Society .................... 2013-2014
The Order of Omega Greek Leadership Honor Society .................. 2012-2014
Kappa Psi Pharmaceutical Fraternity ........................................... 2011-Present
REFERENCES
Kenneth Menser, RPh Jason T. Range, JD, PhD
Outpatient Pharmacy Services Supervisor Director of Grants and Budget
St. Vincent Indianapolis Hospital Assistant Professor
Indianapolis, IN Butler University
Kenneth.Menser1@stvincent.org Indianapolis, IN
317.583.5158 jtrange@butler.edu
317.940.6289

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Final Business Plan

  • 1. Business Plan Craig Fisher, Ryan Junkins, Kelly Jay, Ian Ray 4/23/2015 (317) 940-WELL 4600 Sunset Avenue Indianapolis, IN 46208 butlerwaypharmacy@butler.edu www.butler.edu/butlerwaypharmacy
  • 2. 2 Table of Contents Executive Summary...........................................................................................................3 Business Description..........................................................................................................5 Company Overview Mission Statement Vision Statement Values Statement Business Goals and Objectives Management Plan ..............................................................................................................6 Legal Form of Organization Management Team Organization Structure Product and Services Plan.................................................................................................8 Products and Services Competitive Advantage Barriers to Entry Environmental-Impact Analysis Market Analysis ...............................................................................................................11 Industry Overview Market Size Target Market Customer Profile SWOT Analysis Marketing Plan.................................................................................................................15 Executive Summary Unique Selling Proposition Pricing Positioning Strategy Distribution Plan Deals and Offers Marketing Materials Promotion Strategy Online Marketing Strategy Conversion Strategy Operational Plan..............................................................................................................19 Research and Development Location Hours Permits/Licensing Risk/Crisis Management Financial Plan...................................................................................................................21 References.........................................................................................................................25 Appendices........................................................................................................................26 Owner CVs .......................................................................................................................31
  • 3. 3 Executive Summary The Butler Way Pharmacy is an innovative community pharmacy collaboration between Walgreens Boots Alliance, Inc. (“Walgreens”) and Butler University College of Pharmacy and Health Sciences (“COPHS”). The founding student members of this collaboration are Craig Fisher, Ryan Junkins, Kelly Jay, and Ian Ray. As part of Butler University’s “Butler 2020” vision, a new parking garage is currently under construction on campus and includes thousands of square feet of retail space. Butler Way Pharmacy will be located in an approximately 3,000-square-foot facility within this new retail space and will serve as a pilot pharmacy for Walgreens as well as a center of student learning for COPHS. This location was chosen primarily for its competitively short distance from Butler Way Pharmacy’s target market, the students of Butler University and the residents of the surrounding Butler-Tarkington area, all of whom patronize nearby competitors. The Butler Way Pharmacy also benefits from its location on a university campus in that energetic, eager, and inventive young students are readily available to aid in staffing in exchange for experience and fulfillment of the large amount of internship hours required for Doctor of Pharmacy licensure. In addition to offering the typical community pharmacy fare of prescription filling, convenience items, and drug therapy counseling, the Butler Way Pharmacy seeks to differentiate itself in a way that capitalizes on early adopter advantage. The community pharmacy arena is in dire need of such innovation, as hushed whispers of automation and mechanized dispensing robots grow louder with each passing quarter. Butler Way Pharmacy recognizes this fault in the current community pharmacy model and counters with a multi-purpose, hands-on, contemporary “third space” area within the facility that is dedicated to educational health topics relevant to modern Information Age consumers and their Baby Boomer counterparts—wearable health technology, data-driven health metrics, and demystifying health insurance law changes, to name a few. The commonly cited counterpoint to the early adopter advantage is the inherent financial risk involved with innovation. Fortunately, Butler Way Pharmacy anticipates enthusiastic support from Walgreens in exchange for (1) building its brand among the relatively affluent
  • 4. 4 student population of Butler University, (2) fostering professional relationships with future pharmacists, and (3) the opportunity to pilot new programs in an already existing atmosphere of innovation as Butler undergoes expansion. As Butler grows, so too will Walgreens and the field of pharmacy. Estimated start-up costs are $1.4 million with a goal of 4 years as a break-even point. By combining the support of a large financial entity such as Walgreens, the enthusiasm and creativity of COPHS students, and the pharmaceutical and clinical knowledge of COPHS faculty, the Butler Way Pharmacy will integrate technology, health, and community outreach in such a way that ignites a movement to propel the field of pharmacy into the twenty-first century.
  • 5. 5 Business Description Company Overview: The Butler Way Pharmacy by Walgreens is a collaborative community pharmacy located in the new retail space on Butler University’s campus. We are the latest innovation in community pharmacy, combining the premier professional and innovative education of the Butler University College of Pharmacy and Health Sciences with the global Walgreens enterprise to establish a trusted community pharmacy in the Butler-Tarkington neighborhood. The Butler Way Pharmacy will offer a full service pharmacy, convenience store, various pharmacy services, and new student/Walgreens-driven pilot programs in a convenient location. The collaboration will foster the growth of professional students to provide value to Walgreens, Butler COPHS students, the Butler-Tarkington neighborhood, and the advancing pharmacy profession. Mission Statement: The Butler Way Pharmacy’s mission is to provide the Butler and the surrounding community with innovative pharmacy and wellness services made possible by a collaborative educational practice from Walgreens and the Butler University College of Pharmacy and Health Sciences. Vision Statement: To be a community leader in innovative pharmacy services and integrated professional pharmacy education while fostering a happy and healthy local community. Values Statement: The Butler Way Pharmacy has created a set of core values that reflects those of Walgreens which include trust, care, innovation, partnership, and dedication in order to inspire a happier and healthier community.1  Integrity: Integrity means being honest to what we say we will do while maintaining honest and respectful relationships among coworkers, customers, and the public to advance trust between pharmacists and patients.
  • 6. 6  Education: As the core mission of Butler University, we are committed to integrating worthwhile educational experiences into every aspect of our business.  Innovation: In a time when technology and the role of the pharmacist is continually evolving, our company believes in providing our consumers with innovative technology and pharmacy services that also advances the pharmacy profession and its role in the community.  The Butler Way: We believe in selfless team efforts to accomplish our goals in the highest traditions of our University. Business Goals and Objectives:  Break even financially within 4 years to become self-sustaining (positive net income)  Have active pharmacy students taking leads on pharmacy operations and services (e.g. counseling, immunizations), as well as carrying out such operations themselves as far as licensing allows  Establish pilot programs initiated by both Butler COPHS and Walgreens  Improve the professional partnership between Walgreens and Butler University  Build trusted brand loyalty for both Walgreens and Butler University Management Plan Legal Form of Organization: Limited Liability Corporation (LLC) – The Butler Way Pharmacy will exist as an LLC that is ultimately a subsidiary of Walgreens and Butler College of Pharmacy and Health Sciences. The LLC organizational structure offers many benefits, such as flexibility in management structure, allowing management to quickly reorganize if needed, an important quality for a business that desires to break away from traditional pharmacy organization and practice. Additionally, profits in an LLC, rather than being based on percentage of ownership, can be divided as the owners see fit, allowing the profits from operations to be diverted solely to Walgreens, as future contracts will dictate as a financial incentive.
  • 7. 7 Management Team:  Pharmacy Manager: The pharmacy manager will be a full-time Walgreens employee and licensed pharmacist that will oversee both pharmacy and store operations. He/she will report to the existing Walgreens District Pharmacy Supervisor for the market area. Because the location will not allow for the typically greater space for inventory like other Walgreens locations, the typical responsibilities of a store manager are integrated into those of the pharmacy manager.  Staff pharmacist: The staff pharmacist(s) will operate the pharmacy and store when the Pharmacy Manager is not working. The staff pharmacist(s) will report to the Pharmacy Manager.  Pharmacy Intern: The Pharmacy Intern(s) will be integrated into management and pharmacy operations. The Pharmacy Intern will report to the Pharmacy Manager.  Pharmacy Technician: The Pharmacy Technician(s) will complete responsibilities and tasks within both the pharmacy and the entire store. The Pharmacy Technician(s) will report to the Pharmacy Manager.  Pharmacy Advisor: The Pharmacy Advisor will be a Butler University COPHS faculty member or staff person who will oversee educational integration. The Pharmacy Advisor will work closely with the Pharmacy Manager and report to the Dean of the College.
  • 8. 8 Organization Structure: Product and Services Plan Revenue sources for The Butler Way Pharmacy will be a combination of sales for products and services. A variety of products will be offered, including but not limited to prescription medications, OTC medications, cosmetics, and other convenience items (i.e. toiletries, snacks). Billable services will include immunizations, medication therapy management (MTM), new to therapy counseling, and a variety of other pilot programs to be developed and integrated into the available clinical services. Through both of these areas the business hopes to adapt to a self sustaining model while providing unprecedented educational experiences for its students and benefiting the surrounding community. Products and Services:  Pharmacy. Our business will provide a full pharmacy and accept most major insurance through the Walgreens point of sale. The pharmacy will provide compounding services as well, and medications not in stock will be available to order.
  • 9. 9  Convenience items. The store will also make available a variety of convenience items most appealing to a college student clientele. These items will include toiletries, OTC medications, cosmetics, beer and wine, and others.  Clinical services. Integrated into pharmacy operations will be a variety of clinical services provided through both Walgreens and Butler COPHS. Immunizations, MTM, new medication counseling, and other services will be promoted as an integral element to our approach to a happy and healthy community.  Pilot programs. As an innovative and educational business aimed towards advancing the community pharmacy industry, a variety of pilot programs will be initiated and evaluated at our on campus location. Programs will be designed by both students and corporate Walgreens, and these will ultimately benefit patients. Competitive Advantage: The Butler Way Pharmacy by Walgreens is collaboration between Walgreens and Butler University’s College of Pharmacy and Health Sciences (COPHS) that seeks to capitalize on the relatively untapped consumer market that comprises the densely populated and relatively affluent Butler University campus as well as the Butler-Tarkington neighborhood and surrounding areas. The Butler Way Pharmacy envisions itself as both a center for experiential pharmacy education and for innovative community pharmacy pilot initiatives. The pharmacy will bring innovation to the traditional community pharmacy model with our customized design based on practitioner, student, and consumer input will set us apart from the competition and lead us to success. Barriers to Entry: While analyzing the market we have identified three of the main barriers to entry into the pharmaceutical industry, and have identified ways in which The Butler Way Pharmacy can overcome these barriers, and turn them into opportunities.
  • 10. 10 The cost of capital involved in starting a new pharmacy is one of the largest barriers to entry into the field. With up to $1.4 million in expected costs just to stock, staff, and maintain the pharmacy, there is a lot of risk for potential investors.3,4 With the proposed business plan, The Butler Way Pharmacy has an advantage over any other pharmacy trying to enter the market. A collaboration with Butler University and Walgreens will put the pharmacy in a place to either be solely funded by the corporations involved, or will attract investors to the prestigious names involved. Another barrier to entry is customer loyalty which is very evident in the pharmaceutical industry. Existing businesses have a strong market advantage since they have built a strong customer base. Part of The Butler Way Pharmacy’s advantage over its competitors in entering the market is that its association with the Walgreens name. Brand loyalty that already exists with the Walgreens name will only help to draw customers to the pharmacy. Additionally, The Butler Way Pharmacy sets the stage for Walgreens to build customer loyalty among Butler Students who are young consumers and have the potential to remain Walgreens consumers after they leave Butler. The third barrier we foresee is the regulatory law surrounding pharmacies. Adoption of new pilot programs in the pharmacy may require addressing some unforeseen legal obstacles. However, it will be helpful to have the legal resources of a large corporation like Walgreens to aid us in overcoming these obstacles. In overcoming these barriers, we will not only be successful, but will be actively put The Butler Way Pharmacy in a position to deter competitors from entering the market. A conveniently located pharmacy that has brand loyalty built in from a previously existing name will be hard to compete with.
  • 11. 11 Environmental-Impact Analysis: Investment in green technology and green initiatives has already proven to be of great importance to the Butler administration with new classrooms being built following national Leadership in Energy and Environmental Design (LEED) criteria.2 We aim to continue their investment in green initiatives by providing clearly marked recycling bins for cans, bottles, and paper recycling as Butler does around campus already. Being part of Walgreens, we will also plug into their drug take-back program and provide such services to our community as well. Market Analysis Industry Overview: The community pharmacy industry includes over 28,000 retail pharmacies across the United a States.4 As the industry seeks to redefine its clinical role while cutting pharmacy costs and expanding revenue sources, The Butler Way Pharmacy will be a think tank by pharmacy students and Walgreens corporate leaders to create and develop new strategies and services that may be pivotal for the future of our community industry. Market Size: The target audience for our offering is increasing slightly. As the aim of the University's 5 year plan to grow enrollment by close to 15%, as well as the subsequent increase in faculty and staff required to accommodate this enrollment growth, our market is expanding within the University.5 Outside the University no change is market size is projected, however the baby boomers generation has now reached the age that will result in a great increase in healthcare spending. Clinical services developed by our pharmacy will absolutely target this population and their healthcare needs to capture this increase in spending and change in overall market conditions. Target Market: The Butler Way Pharmacy provides products and services to a novel blend of three major target markets. The first group consists of the students of Butler University. This group includes 4,126 young adults between the ages of 18 and 24 (Appendix B).6
  • 12. 12 The next target group consists of Butler University faculty and staff, and the families of these employees. Butler University employees 593 instructional faculty members and close to 400 staff. The final and largest target market consists of 21,298 residents in the Butler-Tarkington Neighborhood.7 This target market is a unique combination of college aged students coming from middle-upper class families and a surrounding community that is predominantly middle class and working. The Butler Way Pharmacy offers products and services that guide these people toward the universal goal amongst all of these groups, living a healthy and prosperous lifestyle (Appendix B). Customer Profile: Our patient profile is actually a variety or profiles unique to our market, each of which may be targeted specifically with varying marketing strategies. Our first patient profile is the college student. Age is between 18-22, disposable income is variable depending on individual family status (runs higher than average), and general health is relatively good. These potential customers will buy goods simply based on convenience of location since a large percentage does not have transportation. Additionally, health needs for this young, relatively healthy customer will be limited to antibiotics, birth control, cosmetics, and other convenience items. Insurance is mandated for this group by the University. A second patient profile is the faculty and staff of the University. We estimate a median age range for this group to be 35-55, though the population higher than this upper limit will be especially important to capture as the relationship between increasing age and health is generally proportional. This group will also benefit from the convenience of our business being at their place of work. Needs for this group will generally include maintenance medications.
  • 13. 13 The remaining patient profile will be defined as the general citizen population surrounding campus. This customer is generally a working individual from the lower to middle class and most interested in saving on health care costs. For this predominant reason, marketing our services as healthy, long term, cost saving investments will be most successful for capturing this patient. SWOT Analysis: The Butler Way Pharmacy Strengths Weaknesses  Location  Affiliations with both Walgreens and Butler University  Convenience  Delivery  Student ideas  New business model  High starting capital  Acquiring a license to sell beer and wine on a college campus Opportunities Threats  Project may improve local health and wellness  Project will boost company's image with future consumers and employees  Technology improvements replacing pharmacists  Entry into the market because of existing competitors The Butler Way Pharmacy will be competitive because of its accessibility for students and community members, including both a convenient location and delivery services. The new business model may cause set-backs in the beginning months, but as the community begins to understand the importance of an innovative pharmacy, The Butler Way Pharmacy will become an important and vital source for community health.
  • 14. 14 Competitor SWOT Analysis: CVS stores at 56th St. and Illinois St. and 38th St. and Illinois St. Strengths Weaknesses  More pharmacy locations in the Indianapolis area  Product diversity  Established customer base  Doesn’t sell tobacco products  Rundown locations  Located in an neighborhood (38th street) that many Butler students consider unsafe Opportunities Threats  Large increases in populations with high medication use (Baby Boomers retiring) expected to continue for significant period of time  Multiple chain competitors in the market  Negative view of working conditions/demands among employees The main weakness of these stores in comparison to The Butler Way Pharmacy is their location. The Butler Way Pharmacy is the only location of these three that a reasonable consumer would consider within walking distance. Secondly, neither of these stores offers prescription delivery as Butler Way Pharmacy does, distinguishing our operation from the competition. The advantage that these stores have is their ability to sell hard liquor. The Butler Way Pharmacy will emphasize the scientifically supported position that alcohol consumption can have in a healthy lifestyle and will always advocate responsible consumption. However, this may be a disadvantage that we will simply not be able to address effectively, and we will have to make up the lost potential revenue through our other services. Starbucks in Atherton Union Strengths Weaknesses  High traffic location on campus  Early and late night hours for students  National brand recognition  Has marketed themselves well as third space already  Space also used as student study/meeting space – Educational events would tie up this space  Expensive products Opportunities Threats  Reaches a relatively young consumer base which can lead to lifelong customers  Concerns over environmental impact/human rights violations in coffee growing operations
  • 15. 15 The Starbucks in Atherton Union is a competitor with the “third space” that will be located in The Butler Way Pharmacy. While Starbucks is in the center of campus, it has expensive products, and can be noisy and distracting to students. The Butler Way Pharmacy will offer a quiet space for the community to gather around topics that the pharmacy and other student organizations find important in regards to personal and public health. Target Pharmacy at 6101 North Keystone Avenue #200 Strengths Weaknesses  Often perceived as less busy than a typical CVS/Walgreens  Wide selection of merchandise in addition to pharmacy department  Distance from campus/Butler-Tarkington area  Greater reliance on consistent revenue streams Opportunities Threats  Greater diversity of merchandise may entice consumers wishing to consolidate errand trips (fuel expenses)  High overhead costs of the big-box model The Target pharmacy on Keystone represents a “big-box” competitor to the Butler Way Pharmacy. This pharmacy model incorporates full-scale retail options for the consumer rather than simply convenience items, but at the cost of increased overhead. Increased fixed costs lead to a greater reliance on consistent revenue that manifests as a decreased ability to weather periods of below-average revenue. While Butler Way Pharmacy also has high fixed costs in the form of rent and wages/salaries, its focus on education and community through its third space Marketing Plan Executive Summary: The Butler Way Pharmacy strives to be a leader in innovative pharmacy services while integrating education to create a happy and well community. The Butler Way Pharmacy is committed to providing excellent healthcare services through outstanding customer service interaction and cutting-edge programs. Located in the heart of the Butler-Tarkington neighborhood, healthcare services will be convenient and accessible for Butler University
  • 16. 16 students, faculty, and staff, along with the residents of the surrounding community. Society loves furthering education and helping to shape the “future generation of America.” Customers will be able to directly help mold the future pharmacists of American by coming into The Butler Way Pharmacy and giving the students real-life experience with patients. Social media outlets will be utilized to show customers deals, offers, and incentives to entice them to come into the store, especially during the pharmacy’s infancy. The “third space” is an imaginative concept that The Butler Way Pharmacy will offer at a level above and beyond what is available to customers at the typical pharmacy. The Butler Way Pharmacy promises the greater Butler community that they can count on us for outstanding, innovative, and educational healthcare services, delivered with passion, caring, and integrity. Unique Selling Proposition: The Butler Way Pharmacy is an industry leading innovative pharmacy. The one-of-a-kind collaboration between Butler University and Walgreens allows The Butler Way Pharmacy to offer a unique mix of products and services that has not been seen in any other pharmacy before. By being located within walking distance of the majority of the target market, customers will enjoy convenience that will allow them to save time. The customers will have the opportunity to support the Butler University College of Pharmacy and Health Sciences, allowing them to directly provide real-life experience to the future pharmacists of their own community. Customers will be able to have their prescriptions delivered right to their doorstep, at a small fee of $5. Convenience items can be delivered to the home, but a prescription is required with the order. The Butler Way Pharmacy features a cutting-edge “third space” that will be used for a plethora of different activities, including healthcare instructional classes, meetings, and studying. Pricing and Positioning Strategy: With its prime location amongst the market, The Butler Way Pharmacy offers accessibility and convenience that is unrivaled in the industry. The Butler Way Pharmacy offers outstanding and the most innovative healthcare products and services to the greater Butler community. The Butler Way Pharmacy will offer its products and services at an extremely fair and competitive price, matching the price structure of Walgreen’s. This will include weekly sales and promotions that are presented to the customers. Walgreen’s signature “Balance Rewards”
  • 17. 17 program will also be available, allowing customers to earn points for all of their purchases, with incentives coming at certain milestones. Customers will earn $5 for every 5,000 points, which can be easily attained by having 10 prescriptions filled at the pharmacy.8 Distribution Plan: The Butler Way Pharmacy will offer a variety of methods for customers to order and receive their products and services. Prescribers will be able to send in prescriptions electronically, by fax, or by telephone. Customers may bring in the hardcopy of the prescription into the store. Customers have the opportunity to order prescription refills in-store, by phone, online website, or via the mobile application. This offers patients convenience of being able to pick the method that works best for them. The Butler Way Pharmacy’s delivery service allows customers to have their items delivers right to their home, without any hassle to them at all. For a fee of $5, prescriptions will be delivered directly to the patient’s door step. Convenience items can be added to the order as long as there is at least one prescription in the delivery. Deals and Offers: There will be an increased number of deals and offers at the time of Grand Opening, to help boost the initial flow of customer traffic. The first 100 customers that fill a script will be entered into a drawing for a large prize (iPad, Xbox, or TV). This will be an extremely effective incentive to get customers in the door. Each customer will receive a $5 gift card upon filling their first prescription. The “Refer a Friend” program offers a $10 reward for a customer referring another person into the pharmacy. A 20% off coupon for front-store items will be offered as an incentive for customers to utilize the clinical services. The Butler Way Pharmacy will also offer the same weekly sales and deals on products and services that are available at the other Walgreens store locations. Marketing Materials: Social media will be the cornerstone of marketing and advertising for The Butler Way Pharmacy. Accounts on various social media outlets including Twitter, Facebook, Instagram, and Foursquare, will be heavily relied on. Promotional emails will be sent to customers that sign up for our email service, alerting them of the deals and offers of the week. Fliers will be put up all
  • 18. 18 around Butler University’s campus, throughout the Butler-Tarkington neighborhood, and around Broad Ripple businesses. The popularity of the Butler Bulldogs Men’s Basketball will be utilized as an opportunity for marketing by having an advertisement billboard inside of Hinkle Fieldhouse, as well as using an advertisement on the new large screen scoreboard. Promotion Strategy: The Butler Way Pharmacy will utilize various marketing outlets to promote its outstanding care and innovative health services offered to customers right in their own community. Word-of-mouth will be a tremendous way to spread the word amongst customers, especially college-aged students who can be easily influenced by the opinion of their peers. Referrals will be a strong way of getting more customers into the store. The Butler faculty and staff, as well as the residents of Butler-Tarkington, will be affected by the online reviews and ratings of the pharmacy. Partnerships will be established with the Butler University College of Business and College of Communication. This collaboration will improve aspects of website design, public relations, and social media. The large prize drawing at the time of Grand Opening, along with other deals and offers, will entice customers to walk through the pharmacy door and become aware of the fabulous products and services offered by The Butler Way Pharmacy. Online Marketing Strategy: The Butler Way Pharmacy has a website that is fully interactive and stress-free for customers to navigate and take full advantage of. The website will allow customers to easily order refills from the comfort of their own home, or anywhere in the world with an internet connection. Customers will be able to set up in-home delivery of their prescription and any other convenience items they may require at that time. The website will provide a way for customers to view the current deals and sales of the week. The website will also feature a “Customer Reviews and Feedback” section that will allow customers to give ratings about their interaction and experience at the Butler Way Pharmacy. Other customers will be able to view this honest feedback. The website will allow customers to monitor their progress with the Balance Rewards program, keeping them up-to-date on how many points they have earned and how many more points they need to reach their next goal and earn a reward.
  • 19. 19 Conversion Strategy: The Butler Way Pharmacy will utilize multiple different strategies to convert potential customers into long-term, loyal patients. The Butler Way Pharmacy will ensure customers are aware of the company’s true values at the core of the business, and will live true and operate every day in accordance with those values. People love furthering education and helping to shape the “future generation of America.” Patients will be able to directly help mold the future pharmacists of American by coming into The Butler Way Pharmacy and giving the students real- life experience with patients. The deals, offers, and incentives to customers will entice them to come into the store, especially in the infant days of the pharmacy. The Butler Way Pharmacy will blow customers away with the level of excellent service provided. Customer service will be a top-priority and will be outstanding to each and every customer, every interaction, of every single day. Operational Plan Research and Development (R&D): Our current R&D capacity would be limited in terms of in-house staff, but we foresee collaborating with Walgreens to collect and analyze health data for short-term and long-term purposes. These data could be used for adjustment of in-house protocols to maximize benefits for patients while minimizing costs to the pharmacy. Data could also be shared with COPHS for educational purposes. Location: The Butler Way Pharmacy will be located in the new retail space in the Butler University parking garage which is currently under construction. We have developed layouts for several of the available spaces to allow for flexibility during negotiations (Appendix A). Address: The Butler Way Pharmacy 4600 Sunset Ave. Indianapolis, IN 46208
  • 20. 20 Hours: Hours of Operation: Monday- Friday 9:00 a.m. – 9:00 p.m. Saturday 10:00 a.m. – 11:00 p.m. Sunday 10:00 a.m. - 9:00 p.m. Pharmacy Hours: Monday- Friday 9:00 a.m. – 9:00 p.m. Saturday 10:00 a.m. – 6:00 p.m. Sunday 10:00 a.m. - 5:00 p.m. Per Indiana Code (IC 25-26-13-18), an application for a pharmacy permit must include “the number of hours, if any, that the pharmacy will be open to the general public.” Permits/Licensing: A beer and wine liquor license will be obtained from the State of Indiana. Additionally, the proper national, state, and local permits and licenses for Pharmaceutical operations will be obtained with the help of Walgreens and Butler University. We will ensure that all of our employees maintain adequate licensure for the duration of their employment. Risk/Crisis Management:  We will create crisis-management plans for online patient information and customer credit card information in case of an online security breach in accordance with Butler University and Walgreens.  Butler University will retain insurance for all student workers or Pharmacy Interns.  Walgreens maintains a program of Commercial Insurance and Self-Insurance to protect the company. This insurance policy will extend to cover The Butler Way Pharmacy.9
  • 21. 21 Financial Plan The primary financial goal of Butler Way Pharmacy is to be a self-sustaining entity within 4 years, meaning revenues exceed expenses, resulting in a positive net income. When estimating potential revenues and expenses, conservativism and liberalism were utilized, respectively. Efficient and effective accounting will be vital to the first few years of operation, as said estimations are difficult to project and will need to be adjusted accordingly on a consistent basis to meet the 4-year goal. In the interest of accuracy amid these difficulties, a local Walgreens pharmacy manager was interviewed, and he provided an actual Walgreens pharmacy monthly operating statement from which certain values were adapted, such as the cost of goods sold value of 70%, utilities expenses, salaries/wages expenses, recommended FTE values for the store size, and suggested fees for various pharmacy services.10 An initial investment of $1.4 million by Walgreens is assumed, with all profits being retained by them. Rental cost estimations were adapted from corporate rental space cost data from LoopNet.11 Projected financial statement data are listed below.
  • 22. Balance Sheet Year 1 Year 2 Year 3 Year 4 Year 5 Cash 50,000 100,000 150,000 200,000 250,000 Accounts receivable 100,000 200,000 300,000 400,000 450,000 Inventory 750,000 750,000 750,000 750,000 750,000 Prepaid rent (12 mo. * $25/sq. ft. * 3,000 sq. ft.)* 720,000 741,600 763,848 786,763 810,366 Prepaid insurance ($1000/mo.)* 12,000 12,360 12,731 13,113 13,506 1,632,000 1,803,960 1,976,579 2,149,876 2,273,872 Property, plant, and equipment 20,000 20,000 20,000 20,000 20,000 (Less accumulated depreciation) (2,000) (2,000) (2,000) (2,000) (2,000) 18,000 18,000 18,000 18,000 18,000 1,650,000 1,821,960 1,994,579 2,167,876 2,291,872 Accounts payable 926,800 1,454,364 1,796,315 1,941,474 1,973,113 Income taxes payable (pos. NI not expected until FY4) - - - 9,621 35,465 926,800 1,454,364 1,796,315 1,951,095 2,008,578 Owner's investment 1,400,000 723,200 367,596 198,264 216,781 Retained earnings (essentially NI) (676,800) (355,604) (169,332) 18,517 66,513 723,200 367,596 198,264 216,781 283,294 1,650,000 1,821,960 2,007,310 2,167,876 2,291,872 0.56 0.80 0.90 0.90 0.88 1.76 1.24 1.10 1.10 1.13 705,200 349,596 180,264 198,781 265,294 2.28 4.96 10.06 10.00 8.09 1.28 3.96 9.06 9.00 7.09 Working Capital (Current Assets - Current Liabilities) Assets-to-Equity Ratio (Total Assets / Owner's Equity) Debt-to-Equity Ratio (Total Liabilities / Owner's Equity) Owner's Equity Total owner's equity Total Liabilities and Owner's Equity Common Financial Ratios Debt Ratio (Total Liabilities / Total Assets) Current Ratio (Current Assets / Current Liabilities) Total Assets Liabilities and Owner's Equity (USD $) Current Liabilities Total current liabilities The Butler Way Pharmacy Assets (USD $) Current Assets Total current assets Fixed (Long-Term) Assets Total fixed assets
  • 23. Year 1 Year 2 Year 3 Year 4 Year 5 Sales revenue 900,000 1,800,000 2,400,000 3,000,000 3,250,000 (Less sales returns and allowances) - 2% sales (18,000) (36,000) (48,000) (60,000) (65,000) Service revenue (MTM) 200,000 400,000 500,000 625,000 700,000 (Less cost of goods sold [~70%/50%]) (730,000) (1,460,000) (1,930,000) (2,412,500) (2,625,000) 352,000 704,000 922,000 1,152,500 1,260,000 [42] Advertising (500/mo.)* 6,000 6,180 6,365 6,556 6,753 Depreciation (10%/yr. on 20,000 of equipment) 2,000 2,000 2,000 2,000 2,000 Insurance (1,000/mo.)* 12,000 12,360 12,731 13,113 13,506 Office supplies (150/mo.)* 1,800 1,854 1,910 1,967 2,026 Rent (12 mo. * 25/sq. ft./mo. * 3,000 sq. ft.)* 720,000 741,600 763,848 786,763 810,366 Salaries and wages (2.5 RPh/Manager FTEs)* 275,000 283,250 291,748 300,500 309,515 Utilities (1,000/mo.)* 12,000 12,360 12,731 13,113 13,506 1,028,800 1,059,604 1,091,332 1,124,012 1,157,672 Net Income Before Taxes (676,800) (355,604) (169,332) 28,488 102,328 Income tax expense (35% est.) - - - 9,971 35,815 (676,800) (355,604) (169,332) 18,517 66,513 Income Statement The Butler Way Pharmacy Revenue (USD $) Net Income Gross Profit Expenses (USD $) Total Expenses
  • 24. Cash Flow Statement Cash at Beginning of Year 1,400,000 815,200 669,956 543,355 656,985 Year 1 Year 2 Year 3 Year 4 Year 5 Cash receipts from customers 1,200,000 2,400,000 3,200,000 4,225,000 4,550,000 Cash paid for Inventory purchases (750,000) (1,500,000) (2,250,000) (2,992,500) (3,231,900) Wage expenses (275,000) (283,250) (291,748) (300,500) (309,515) Prepaid rent (720,000) (741,600) (763,848) (786,763) (810,366) Prepaid insurance (12,000) (12,360) (12,731) (13,113) (13,506) Advertising (6,000) (6,180) (6,365) (6,556) (6,753) Office supplies (1,800) (1,854) (1,910) (1,967) (2,026) Income taxes - - - (9,971) (35,815) Net Cash Flow, Operations (564,800) (145,244) (126,601) 113,630 140,119 (No anticipated cash receipts) Cash paid for Purchase of property and equipment (20,000) - - - - Net Cash Flow, Investing Activities (20,000) - - - - Financing Activities (USD $) (No anticipated cash receipts/payments) Net Increase in Cash (584,800) (145,244) (126,601) 113,630 140,119 Cash at End of Year 815,200 669,956 543,355 656,985 797,104 Template adapted from Vertex42 LLC (http://www.vertex42.com) The Butler Way Pharmacy Operations (USD $) Investing Activities (USD $) Operations (USD $) Investing Activities (USD $)
  • 25. 25 References 1. "Company Information | Walgreens." Walgreens. N.p., n.d. Web. 18 Apr. 2015. <http://www.walgreens.com/topic/about/company.jsp>. 2. "Butler Goes Green." Butler Sustainability. N.p., n.d. Web. 18 Apr. 2015. <http://legacy.butler.edu/butler-goes-green/>. 3. " Start a Pharmacy" Small Business. N.p., n.d. Web. 18 Apr. 2015. <http://smallbusiness.chron.com/much-money-required-start-pharmacy-12266.html>. 4. "Topic: Drug Store/Pharmacy Market in the U.S." www.statista.com. N.p., n.d. Web. 18 Apr. 2015. <http://www.statista.com/topics/1412/drug-store-pharmacy-market-in-the-us/>. 5. "Butler 2020 Progress." Butler.edu. N.p., 23 Jan. 2015. Web. 18 Apr. 2015. <https://www.butler.edu/president/butler-2020-progress>. 6. "Best Colleges | College Rankings | US News Education - US News." US News RSS. N.p., n.d. Web. 18 Apr. 2015. <http://colleges.usnews.rankingsandreviews.com/best-colleges>. 7. "Butler-Tarkington." Point Homes. N.p., n.d. Web. 05 Apr. 2015. <http%3A%2F%2Fwww.point2homes.com%2FUS%2FNeighborhood%2FIN%2FIndian apolis%2FButler-Tarkington.html>. 8. "Balance® Rewards." Balance Rewards. N.p., n.d. Web. 18 Apr. 2015. <https://www.walgreens.com/balancerewards/balance-rewards.jsp>. 9. "Insurance and Risk Management | Walgreens." Walgreens. N.p., n.d. Web. 18 Apr. 2015. <http://www.walgreens.com/topic/about/insurance/management.jsp>. 10. "Walgreens Operations and Financials." Personal interview. 10 Feb. 2015. 11. “Properties in Indianapolis.” LoopNet. Web. 19 Apr. 2015. <http://bit.ly/1cJaLBE>.
  • 26. 26 Appendices Appendix A. Store Location and Layout Figure 1. Street view of the new parking structure and ideal location for The Butler Way Pharmacy.
  • 27. 27 Figure 2. Sky view of parking structure and retail space with the surrounding campus and community. Figure 3. Schematic of parking structure location, includes parking for retail space in the bottom center of the image.
  • 28. 28 Figure 4. Floor plan for parking structure and retail space. Figure 5. Floor plan for The Butler Way Pharmacy if located on the corner retail space. Rx designates the pharmacy location within the store. Convenience designates the convenience products location in the store. MPR designates the multipurpose room which will be the “third space” discussed in the business plan.
  • 29. 29 Figure 6. Floor plan for The Butler Way Pharmacy if located in a different available space. Rx designates the pharmacy location within the store. Convenience designates the convenience products location in the store. MPR designates the multipurpose room which will be the “third space” discussed in the business plan. Note: the space is only part of the 6,000 S.F. retail space. Appendix B. Demographics for the Butler-Tarkington Area6,7 Butler-Tarkington Population Demographics Total Population 21,298 Male Population 9,980 Female Population 11,317 Percent Change Since 2000 -12.3 % Percent Change Since 2010 1.9 % Median Age 31.62
  • 30. 30 Occupational employment in Butler-Tarkington White Collar 4,230 Blue Collar 2,272 Number of Households in Butler-Tarkington Total Households 8,349 Family Households 4,214 Non-family Households 4,135 Households With Children 2,353 Households Without Children 5,996 Average People Per Household 2.23 Butler-Tarkington Education Statistics No High School 513 Some High School 1,643 Some College 2,817 Associate Degree 728 Bachelors Degree 1,965 Graduate Degree 1,610 Household Income and Average Income in Butler-Tarkington Median Income Under 25 $18,417 Median Income 25-44 $34,463 Median Income 45-64 $36,274 Median Income Over 65 $38,913
  • 31. Craig Fisher 802 Berkley Road, Indianapolis, IN 46208 ctfishe1@butler.edu | 317.682.8928 (mobile) www.linkedin.com/in/craigfisher317 | follow@craigfisher317 PROFESSIONAL OBJECTIVE Biographical Statement: Craig is a third year professional Doctor of Pharmacy student at Butler University in Indianapolis, Indiana (completing doctorate degree in six total collegiate years). Pursuing an impactful career for patients and the pharmacy profession is important for Craig, and his continued hope is to identify career paths that may utilize his unique skills and interests to advance pharmacy and provide these patient services. An Indianapolis native, Craig also finds rewarding his extensive University and community engagement. Personality Assessments: Strengths Finder ®: Futuristic, Strategic, Activator, Maximizer, Achiever DiSC ® Profile Pattern: Objective Thinker  Description: Logical, exact, reserved  Goals: Being correct and accurate The Holland Theory: Enterprising, Conventional, Social EDUCATION Doctor of Pharmacy (candidate) Expected May 2016 Butler University, Indianapolis, IN GPA: 3.0 Elective Coursework:  Entrepreneurship in Life Sciences o Introduced to the process of building business plans and developed a new business plan using writing and networking skills o Gained exposure to healthcare and professional business owners/consultants, entrepreneurs, and leaders in life sciences o Developed awareness of and ability to lead with an ownership mindset and to be an agent of change, starting with self-awareness  Nutritional Support  Medical Anthropology LICENSURE & CERTIFICATIONS APhA Pharmacy-Based Immunization Delivery certificate Dec. 2014-Present CITI Human Subjects Research Training Sept. 2014-Present American Heart Association Basic Life Support (CPR and AED) April 2014-Present State of Indiana Pharmacy Intern Aug. 2012-Present License Number: 45017697A
  • 32. Fisher CV Page 2 INTRODUCTURY PHARMACY ROTATIONS/INTERNSHIPS Institutional Practice – Hancock Regional Hospital, Greenfield, IN Aug. 2014 Preceptor: Tim Livesay, PharmD Community Practice – Walgreens Boots Alliance Inc. Store #02798, Indianapolis, IN Dec. 2012 Preceptor: Sheetal Mistry, PharmD WORK EXPERIENCE Walgreens Boots Alliance Inc.  Community Pharmacy Intern 2013-Present  Completed the Walgreens Community Pharmacy Internship Program as one of eleven student pharmacy interns for the Indianapolis, IN market (May-Aug. 2013)  Gained realistic community retail experience through counseling, screening, workflow, operational, and managerial exercises  Improved patient care by refining problem-solving and communication skills  Demonstrated outstanding workplace professionalism and performance  Corporate Pharmacy Intern May-Aug. 2014  Completed the Walgreens Corporate Pharmacy Internship Program as one of two student pharmacy interns at Walgreens Corporate Headquarters in Deerfield, IL  Lead the development of a risk assessment system for Walgreens dispensed narrow therapeutic index (NTI) medications and presented a corresponding patient safety strategy to the company’s executive leadership team  Assisted in making and communicating enterprise-wide decisions while completing rotations with Pharmacovigilance/Quality Assurance, Pharmacy Process Optimization, and Pharmacy Regulatory Affairs business units  Advised teams of undergraduate business interns in case studies and competitions Butler University Office of Admission  Student Assistant 2013-Present  Managed recruitment projects as especially assigned by professional staff  Hosted University VIP guests, visitors, perspective students and their families in a variety of professional capacities (presentations, campus tours, etc.)  Leading programs for hiring and training of undergraduate student employees  Assumed confidentiality for activities of the Office of Admission  Student Ambassador 2011-2013 WORK EXPERIENCE (continued) Lifeguard, Health and Recreation Complex, Butler University 2011-2012
  • 33. Fisher CV Page 3 Manager, Aquatic Facility at Eagle Creek Park, Indianapolis, IN April-Aug. 2012  Supervised staff daily in outstanding customer service and professionalism  Managed facility and waterfront safety regulation  Assumed fiscal responsibilities including cash handling and deposits TEACHING EXPERIENCE Mentor, Emerging Leaders Program, Butler University 2013-Present  Trained in leadership development exercises and teamwork principles  Served as an individual mentor for three students three semesters  Served as a large group mentor for three semesters Student Orientation Guide, Welcome Week Programs, Butler University 2011-2013  Welcomed and oriented more than 50 incoming new students in small groups over three years  Assisted in the overall programming of the new student orientation LEADERSHIP & COMMUNITY SERVICE Butler University College of Pharmacy and Health Sciences (COPHS)  Founding Project Leader, BU Well Journal 2015-Present  Creating the vision and direction for the first open access multimedia healthcare review journal driven by students and supported by a multi-year Butler University Innovation Fund grant  Overseeing promotional, policy, student participation, sustainability, and training teams of nearly 30 student editors and writers and their foundational work towards the first annual volume in 2016  To learn more about this first of its kind student driven healthcare review journal, visit http://digitalcommons.butler.edu/peer_review_list.html, or follow on Twitter at https://twitter.com/BUWellJournal (@BUWellJournal)  Walgreens Student Leadership Board, Butler University 2014-Present  Developed student leadership skills that are directly beneficial in community practice pharmacy including personnel management and program development  Participated in and facilitated personal and professional growth opportunities to support students’ career paths  Provided networking opportunities between students, pharmacists and other Walgreens leadership
  • 34. Fisher CV Page 4 LEADERSHIP & COMMUNITY SERVICE (continued)  Student Services Advisory Committee 2014-Present  Selected as one of five COPHS students to serve in an advisory capacity to the Assistant Dean for Student Affairs and the COPHS Student Affairs Office  Support opportunities for co-curricular programming which facilitate interaction between Physician Assistant and Pharmacy students, and interface with the Interprofessional Education and other Committees as appropriate to further enhance co-curricular participation  Track current student leadership activities and develop and implement new student leadership activities  Phi Lambda Sigma Pharmacy Leadership Society (Pi Chapter at Butler University) Elected 2014  Social Committee Chair, Phi Delta Chi Professional Pharmacy Fraternity (Alpha Phi Chapter at Butler University) 2013-Present  Volunteer, Butler University Community Outreach Pharmacy 2013-Present  Vice President, Butler University Class of 2016 2012-Present  President & Founder, Butler University Pre-Pharmacy Club 2012 Butler University Student Government Association  Student Body & SGA President 2013-2014  Created the vision and direction for Student Life and SGA at Butler University  Lead the Executive Board and their work with over 100 students in daily operations and programming for Student Life  Managed an annual budget of greater than $750,000 in student fees  Chaired the weekly Student Assembly of over 150 representatives  Assigned and oversaw student representation to various university entities, including subcommittees for the Board of Trustees, administrative personnel search committees, and for special ad hoc committees, among others  Represented and advocated for officially adopted student positions, including opposition to Indiana HJR-3, support for additional amendments to the Indiana Lifeline Law, support for the federal Collegiate Housing and Infrastructure Act, and support for green initiatives for the City of Indianapolis  Partnered with the Indianapolis Bar Association and the Indiana Youth Services Association to lead a campus-wide project to raise awareness of Indiana’s Lifeline Law for Butler students  On behalf of Butler students, personally received to campus author Maya Angelou, Archbishop Desmond Tutu, Academy Award winning director Lee Daniels, former First Lady Laura Bush, and Academy Award winning actress Marlee Matlin, among others
  • 35. Fisher CV Page 5 LEADERSHIP & COMMUNITY SERVICE (continued)  Student Representative, Butler University Board of Trustees 2012-2014  Full Board (2013-14)  Student Affairs standing committee (2013-14)  Enrollment standing committee (2012-13)  Alcohol Task Force for Student Affairs 2012-2014  Appointed as one of four students to serve by researching and contributing to discussions related to potential changes to the University alcohol policy  Assisted in directly reporting the immensely positive results of our work to the Vice President of Student Affairs  Parliamentarian 2012-2013  Representative, SGA Student Assembly 2011-2012 Sigma Nu Fraternity (Epsilon Mu Chapter at Butler University)  Historian 2013-2014  Vice President 2012  Created the vision and direction for the largest fraternity chapter at Butler University  Organized the annual chapter report credited for national recognition, including one of eight Rock Chapters by the national fraternity and one of five Chapter Awards of Distinction by the North American Interfraternity Conference for chapter excellence, among others  Directly supervised the leadership and operations of all functional chapter committees  Chaired the conduct review board and served as parliamentarian for the chapter  High Council Nominating Committee, Sigma Nu Fraternity Grand Chapter July 2012  Appointed as one of four collegiate members to serve on the committee for the 2012 national conference in Dallas, TX  Interviewed and nominated the slate of alumni candidates for election to the High Council Board of Directors for the National Fraternity Alumni Task Force, Brebeuf Jesuit Preparatory School 2014-Present Mentor, Emerging Leaders Program, Butler University 2011-Present Uniform Chair, Butler University Basketball Band (Trumpet) 2012-2013 Student Orientation Guide, Welcome Week Programs, Butler University 2011-2013 Butler University Student Conduct and Appeals Board 2011-2013 Order of Omega Greek Honor Society (Nu Upsilon Chapter at Butler University) Elected 2012
  • 36. Fisher CV Page 6 PRESENTATIONS Fisher, C. Corporate Pharmacy Intern Presentation for Walgreens Boots Alliance Inc. Executive Leadership. Oral Presentation. “Patient Safety Strategy for Narrow Therapeutic Index Medications.” (Aug. 2014) CONFERENCES ATTENDED Undergraduate Research Conference, Butler University, Indianapolis, IN April 2014 HONORS & AWARDS Alpha Alumni Chapter Affiliate, Sigma Nu Fraternity, Inc. July 2014 Recognizing the ten most outstanding seniors each year, "The [national] Fraternity salutes those Knights who demonstrate a genuine commitment to the ideals of the Legion of Honor and whose pattern of performance is a worthy example for others to follow." Walgreens Diversity & Inclusion Excellence Scholarship July 2014 "Each year, Walgreens is pleased to recognize one student pharmacist from each pharmacy school with the Walgreens Inclusion Excellence Scholarship. The award is given to the student who has best embraced diversity and promoted diversity and inclusion awareness initiatives on campus." Lobraico Scholarship, Butler University June 2014 “The Frank A. Lobraico Scholarship Fund was established in memory of Frank Lobraico. The scholarship, based on merit, is awarded to a third-year student in the College of Pharmacy and Health Sciences who is interested in pursuing a career in community pharmacy.” Greek Man of the Year, Butler University April 2014 "The Greek Man of the Year Award is presented to the fraternity member who has excelled in all areas and who has served as a positive role model in the Greek community." Top 100 Student & Top 10 Most Outstanding Men, Butler University April 2014 "Since 1961, the [Butler Top 100 Student] program has honored those students who, through campus leadership, community involvement and academic performance are great assets to our University. The students honored each year continue the tradition of dedication and service to Butler. They reflect outstanding character, scholarship, engaged citizenship, leadership and commitment to fostering diversity."
  • 37. Fisher CV Page 7 HONORS & AWARDS (continued) Knight of the Year, Sigma Nu Fraternity (Epsilon Mu Chapter at Butler University) April 2013 “Recognizes the brother who has demonstrated outstanding character most notably with a focus beyond the chapter for Greek Life, Butler University, and/or the larger community" Vigil Honor, Order of the Arrow National Honor Society, Boy Scouts of America Sept. 2009 “Reserved for those Arrowmen who, by reason of exceptional service, personal effort, and unselfish interest, have made distinguished contributions beyond the immediate responsibilities of their position of office to one or more of the following: lodge, Order of the Arrow, Scouting community, Scout Camp." Eagle Scout, Crossroads of America Council, Boy Scouts of America Aug. 2009 "To earn the Eagle Scout rank, the highest advancement rank in Scouting, a Boy Scout must fulfill requirements in the areas of leadership, service, and outdoor skills."
  • 38. Kelly Jay kjay@butler.edu (847) 224-6278 Permenant Address Current Address 8 Hawley Court 5801 N. Olney St. #11 Grayslake, IL 60030 Indianapolis, IN 46220 EDUCATION Doctorate of Physical Therapy May 2018 Indiana University, Indianapolis, IN Coursework begins August 2015 Bachelor of Science in Biology May 2015 Butler University, Indianapolis, IN Minor: Health Care Management GPA: 3.8/4.0 Coursework Included: Health Care Administration, Human Anatomy and Physiology, Health Care Economics, Medical Terminology, Entrepreneurship in Life Sciences Honors: Dean’s List Fall 2013, Butler University Top 100 Student Recognition 2014-2015, and Blue Key National Honors Fraternity 2013-2014 CERTIFICATIONS BLS for Health Care Providers, American Heart Association January 2015 CPR/AED, American Red Cross May 2013–Present EXPERIENCE Physical Therapy Aide September 2014–Present Carmel Rehab, Carmel, IN  Assist Physical Therapist with patient care by explaining and supervising exercises  Create a comfortable and productive environment for patients to facilitate quality rehabilitation  Listen to patients and communicate concerns with the therapist on site to unsure quality care  Schedule appointments to optimize patient and therapist time Volunteer August 2013–Present A Caring Place, Indianapolis, IN  Facilitate exercises for 20 elderly individuals to enhance daily activity  Converse with clients whom have dementia, cognitive, and physical disabilities to provide personal attention and stimulation  Observe and assist a Physical Therapist with fall prevention and walking programs in an effort to keep clients living in their homes  Encourage clients to participate in daily programming to avoid sedentary lifestyles Physical Therapy Volunteer January 2014–May 2014 St. Vincent Hospital, Indianapolis, IN  Observed Therapists in a variety of settings to gain experience in the physical therapy field  Interacted with patients and therapists to understand why certain treatments were provided  Prepared supplies and equipment for therapists to achieve efficiency
  • 39. Medical Volunteer May 2014 Timmy Global Health, Xela, Guatemala  Enhanced language proficiency by communicating with locals in their native language  Developed a broader understanding of and commitment to global health disparities  Collected basic health information for patients arriving at the clinic to create complete medical charts and efficiency for doctors providing care  Administered fluoride treatments to 50 children ages 6 months to 13 years to improve oral health EXPERIENCE Advocate for Community Engagement January 2014–Present Butler University, Indianapolis, IN  Coordinate relationships between Butler University and community partners for service learning courses  Supervise Butler students at community sites to ensure they contribute in useful and productive ways  Schedule students for 20 hours of service to enable them to complete their service learning requirement  Correspond with Butler University faculty to report on student participation in service Aquatic Center Manager Summer 2013, 2014 Village of Grayslake, Grayslake, IL  Trained 32 lifeguards each year in CPR, first aid, rule enforcement and aquatic rescues to ensure the safety of everyone in the facility  Served as a liaison between the aquatic center and the Village of Grayslake to facilitate operations that are aligned with village procedures and goals  Addressed concerns of aquatic center guests and parents to provide solutions that maintained customer satisfaction  Supervised and scheduled 60 employees to ensure adequate staffing at all times  Achieved 5-star manager and facility status in each of 4 safety audits RESEARCH Butler University, Indianapolis, IN January 2014-May 2014  The Role of Misshapen and its Homolog in Cytoskeleton Regulation LEADERSHIP AND COMMUNITY SERVICE President, Alpha Phi, Epsilon Beta Chapter January 2014–January 2015  Revitalized goals for the chapter to ensure overall health and growth in accordance with Alpha Phi Internationals Student Orientation Guide, Butler University Fall 2014  Introduced new students to Butler University and all of its available resources Assistant Director to Formal Recruitment, Alpha Phi, Epsilon Beta Chapter January 2013–January 2014  Selected new members who advocate for the values of Alpha Phi Assistant Youth Soccer Coach, Grayslake Soccer Camp Summer 2011, 2012, 2013  Coached 50 children grades 1 through 8 in drills to develop soccer competencies and confidence Treasurer, Women’s Club Soccer, Butler University October 2011–January 2013  Managed finances for the club, including paying referees and collecting dues to ensure the club’s future Team Captain, Relay for Life July 2007–May 2013  Organized team members and fundraising events to support cancer research Biology Professor Selection Committee, Butler University Fall 2012  Assisted in interviewing a new biology professor to provide student input to the hiring committee
  • 40. Kelly Jay kjay@butler.edu 5801 N. Olney St. 311, Indianapolis, IN 46220 (847) 224-6278 REFERENCES Dr. Chuck Combs, DPT Physical Therapist, Carmel Rehab 154 West Carmel Drive Indianapolis, IN 46032 (317) 818-0404 carmelrehab@att.net Kevin Timony Assistant to the Village Manager, Village of Grayslake 10 South Seymour Avenue Grayslake, IL 60030 (847)223-8515 ktimony@villageofgrayslake.com Professor Donald Braid, PhD Director, Center for Citizenship and Community, Butler University 4600 Sunset Ave Indianapolis, IN 46208 (317) 940-8353 dbraid@butler.edu Dr. Alison Solomon, DPT Senior Physical Therapist/Clinical Education Coordinator, Advocate Condell Rehab Services, Centre Club Gurnee 1405 N. Hunt Club Rd. Gurnee, IL 60031 (847) 855-2890 allison.solomon@advocatehealth.com Jennifer Kowalski, PhD Assistant Professor, Department of Biological Sciences, Butler University 4600 Sunset Ave Indianapolis, IN 46208 (317) 940-8879 jrkowals@butler.edu
  • 41. Ryan J. Junkins Local: 827 W. 44th Street  Indianapolis, IN 46208  (502) 548-5580 Permanent: 4210 Shetland Court  New Albany, Indiana 47150  (812) 948-1036 E-Mail: rjunkins@butler.edu OBJECTIVE To obtain a position in a pharmacy setting that will showcase my passion for helping others, my outgoing personality, and my knowledge of the business world. EDUCATION Doctor of Pharmacy Degree May 2017 Butler University Indianapolis, IN Master of Business Administration May 2017 Butler University Indianapolis, IN High School Diploma May 2010 New Albany High School New Albany, IN Coursework: Biochemistry, Pathophysiology, Pharmaceutical Care I, Anatomy, Physiology, Organic Chemistry, Microbiology, Ethics in Healthcare, Corporate Finance, Economics, Accounting, Marketing, and Organizational Behavior Worthy Master at Arms of Phi Delta Chi Professional Pharmacy Fraternity, Member of Sigma Nu Fraternity, Member of Butler Investments Group, Member of National Honor Society, Horseshoe Scholarship Award Winner WORK EXPERIENCE Pharmacy Intern May 2012 - Present CVS Pharmacy  Worked diligently as a member of the pharmacy team to provide every patient with the appropriate drug regimen as prescribed  Responsibly handled and counted prescription medications  Respectfully interacted with customers to provide a pleasant and efficient transaction Sales Consultant May 2008 – February 2012 Best Buy Company  Delivered outstanding customer service to each customer while completely resolving any issues they had  Handled extremely important customer information while running their credit report  Named Most Valuable Employee for outstanding customer service  Trained many employees that entered the same position LICENSES Pharmacy Intern License License No: 45017658A Indiana Board of Pharmacy Expiration Date: May 2014
  • 42. Ian J. Ray Curriculum Vitae – April 18, 2015 ianray42@gmail.com 7135 English Birch Lane, Indianapolis, IN 46268 Cell: 317.361.7530 Biographical Statement: Ian Ray is a third-year Doctor of Pharmacy candidate at Butler University College of Pharmacy and Health Sciences, class of 2016. He is also on track to graduate with a Bachelor of Arts in Spanish Language, a Medical Spanish Emphasis, and a minor in chemistry. Ian is involved in a multitude of on-campus organizations, most notably Kappa Psi Pharmaceutical Fraternity, Phi Lambda Sigma Pharmacy Leadership Society, Butler University Academy of Managed Care Pharmacy, and Butler Student Association of Pharmacy, all of which have benefited from having him as an executive board member. He is originally from Indianapolis, IN and has a passion for science, technology, and the Spanish language. Ian is an extremely driven person, and he grows more fascinated each day by the possibilities that he believes technology and the sciences in particular will hold for humankind. Personality Assessments: StrengthsFinder® 2.0 Top 5: Intellection, Command, Learner, Ideation, Focus DiSC Profile Pattern: Objective Thinker Myers-Briggs Type: INTJ EDUCATION Doctor of Pharmacy (candidate) ......................................... Expected May 2016 Butler University, Indianapolis, IN Minor: chemistry Medical Spanish Track University Honors Program GPA: 3.92/4.00 Study Abroad Program ................................................. August-December 2011 Universidad de Alcalá, Alcalá de Henares, Madrid, Spain GPA: 4.00/4.00 Coursework: Advanced Spanish Language, Spanish History Through Film, Artistic Connections between Latin America and Spain, Spanish Phonetics Bachelor of Arts in Spanish ............................................... Expected May 2016 Butler University, Indianapolis, IN GPA: 4.00/4.00
  • 43. Ray CV Page 2 LICENSURE & CERTIFICATIONS Comparative Effectiveness Research (CER) Certificate...... April 2015-Present CER Collaborative/University of Maryland School of Pharmacy State of Indiana Pharmacy Intern .............................. September 2012-Present License Number: 45017751A Basic Life Support ................................................................ June 2013-Present American Heart Association First Aid, CPR, AED for Professional Rescuers ................. April 2008-Present American Red Cross LANGUAGES  Professional working proficiency in medical and conversational Spanish INTRODUCTORY PHARMACY ROTATIONS/INTERNSHIPS Community Practice—Walgreen Co. Store #2798, Indianapolis, IN ...... May 2013 Preceptor: Sheetal Mistry, PharmD  Enabled communication between pharmacy staff and monolingual Spanish-speaking customers frequently  Provided cholesterol counseling  Provided blood pressure recording, monitoring, and counseling  Compounded extemporaneous oral suspensions, oral solutions, and topical ointments  Compiled and designed a brochure entitled “Over-the-Counter Pain Medication: What You Should Know” to enhance patient understanding of the risks and benefits of currently marketed OTC analgesic medications Institutional Practice—IU Methodist Hospital, Indianapolis, IN...... May-Aug. 2014 Preceptors: Amy Coffing, PharmD and Jeff Filotei, PharmD  Compounded sterile IV admixtures  Broadened knowledge of ASHP IV Sterile Room Procedures  Improved workflow among techs through flexibility in IV room skills
  • 44. Ray CV Page 3 WORK EXPERIENCE Pharmacy Intern—St. Vincent Heart Center, Indianapolis, IN.. Aug. 2012-Present Supervisor: Kenneth Menser, RPh  Counseled patients on drug information, drug interactions, and potential lifestyle changes with a focus on anticoagulants and cardiac medications  Streamlined and coordinated workflow among technicians, interns, and pharmacists to assure timeliest and highest quality patient care  Assisted pharmacists as well as worked independently in drug preparation, including sterile and non-sterile compounding and IV admixtures  Utilized aseptic technique in laminar airflow workbenches (LAFWs) and compounding aseptic isolators (CAIs)  Coordinated medication stock using Pyxis® 4000 Medication Management systems and Pyxis CII-Safe® systems TEACHING EXPERIENCE Student Tutor, The Rho Chi Society ....................................... Jan. 2014-Present  Responded to student questions through email concerning a wide range of topics in both the Introduction to Dosage Forms and Principles of Drug Action II courses at Butler University Lab Assistant, Butler University ......................................... Jan. 2014-May 2014  Supervised 31 Butler University students in the first year of the professional phase of the pharmacy program during the laboratory section of the Introduction to Pharmaceutical Care 2 course at Butler University  Instructed students on various concepts of sterile compounding, including industry terminology, aseptic technique, and proper use and handling of IV dosage forms (premixes, LVPs, IVPBs) Spanish Language Tutor, Butler University ......................... Sept. 2013-Present  Tutored Butler University students in Spanish, including grammar, syntax, vocabulary, cultural competence, study techniques, and language learning strategies
  • 45. Ray CV Page 4 LEADERSHIP & COMMUNITY SERVICE Medication Therapy Consultant, BU Comm. Outreach Pharmacy ...2015-Present Secretary-Treasurer, Butler University PharmD Class of 2016 .........2014-Present Secretary, Butler University Academy of Managed Care Pharmacy .. 2014-Present ASHP Liaison, Butler Student Association of Pharmacy ................. 2014-Present Volunteer, Butler Community Outreach Pharmacy .......................... 2013-Present Student Government Representative, Phi Lambda Sigma................ 2013-2014 Secretary, Phi Lambda Sigma Pharmacy Leadership Society............... 2013-2014 Member, Mortar Board National College Senior Honor Society ............... 2013-2014 Member, Order of Omega Greek Leadership Honor Society ............... 2012-2014 Academic Committee, Sigma Nu Fraternity........................................ 2011-2014 Recording Secretary, Kappa Psi Pharmaceutical Fraternity................. 2012-2013 Volunteer, A Caring Place Adult Day Center ............................................... 2012 Volunteer/Fundraiser, Special Olympics Indiana – “Polar Plunge” ............. 2012 Volunteer, Habitat for Humanity of Greater Indianapolis............................... 2013 Volunteer, U.S. Dream Academy.................................................................. 2012 Volunteer, Ransburg Scout Reservation.............................................. 2012/2013 Volunteer/Fundraiser, American Cancer Society Relay for Life .. 2011/2012/2013 Volunteer, Gleaners Food Bank of Indiana................................. 2010/2012/2013 PUBLICATIONS To be determined. PRESENTATIONS Brodeur, L., Ray, I., Howard, B., Vermillion, N. Advanced Dosage Forms course, Butler University College of Pharmacy & Health Sciences. Oral presentation. “Zecuity Iontophoretic Transdermal System.” (March 2014). Richardson, R., Ray, I., Vermillion, N., Lamonica, J., Pham, P., Clark, A. Delivery of Health Care course, Butler University College of Pharmacy & Health Sciences. Oral presentation. “How Should Pharmacists Document Continued Competence to Practice?” (April 2013). GRANTS FUNDED B. Howard, M. Vitale, and I. Ray, Co-Investigators. Butler University Dean’s Fund: “Butler University Academy of Managed Care Pharmacy Student Chapter: Leadership Development.” $4,400 (November 2014).
  • 46. Ray CV Page 5 CONFERENCES ATTENDED Academy of Managed Care Pharmacy................................................April 2015 27th Annual Meeting & Expo San Diego, CA Kappa Psi Pharmaceutical Fraternity ........................................... October 2013 Mid-America Province Fall Conclave Purdue University, West Lafayette, IN Kappa Psi Pharmaceutical Fraternity ......................................... February 2013 Mid-America Province Spring Conclave University of Kansas, Lawrence, KS Kappa Psi Pharmaceutical Fraternity ..................................... September 2012 Mid-America Province Fall Conclave St. Louis College of Pharmacy, St. Louis, WI Kappa Psi Pharmaceutical Fraternity ................................................ April 2012 Province V Spring Assembly University of Wisconsin, Madison, WI HONORS & AWARDS Dean’s List (semesterly), Butler University ..................................... 2010-Present A.J.W. LeBien Scholarship, Butler University.............................................. 2014 Indiana Freedom of Choice Grant, State of Indiana ................................... 2014 Indiana Academic Honors Incentive, State of Indiana ............................... 2014 Academic Scholarship, Sigma Nu Fraternity..... Fall ‘11/12/13, Spring ‘12/13/14 Top 10 Men, Butler University ....................................................................... 2013 Scholar of the Year, Sigma Nu Fraternity .......................................... 2012/2013 Recognition Award, The Rho Chi Society .................................................. 2013 Pledge Scholar of the Year, Sigma Nu Fraternity ....................................... 2011 Honors Program Member, Butler University .................................. 2010-Present Freshman Academic Scholarship, Butler University ..................... 2010-Present Robert C. Byrd Honors Scholarship, U.S. Dept. of Ed. .................... 2010-2014
  • 47. Ray CV Page 6 PROFESSIONAL ASSOCIATIONS Academy of Managed Care Pharmacy (AMCP) ........................... 2014-Present The Rho Chi Society....................................................................... 2014-Present American Pharmacists Association (APhA) ................................ 2013-Present American Society of Health-System Pharmacists (ASHP) ......... 2013-Present Phi Lambda Sigma Pharmacy Leadership Society ..................... 2013-Present Mortar Board National College Senior Honor Society .................... 2013-2014 The Order of Omega Greek Leadership Honor Society .................. 2012-2014 Kappa Psi Pharmaceutical Fraternity ........................................... 2011-Present REFERENCES Kenneth Menser, RPh Jason T. Range, JD, PhD Outpatient Pharmacy Services Supervisor Director of Grants and Budget St. Vincent Indianapolis Hospital Assistant Professor Indianapolis, IN Butler University Kenneth.Menser1@stvincent.org Indianapolis, IN 317.583.5158 jtrange@butler.edu 317.940.6289