R Shea Brewery Turns to GoFundMe for Help

R Shea Brewery, a beloved local business, has taken a bold step to ensure its survival. They've turned to GoFundMe to raise funds and stay afloat during these challenging times.

The brewery's GoFundMe campaign aims to raise $500,000 to cover operational costs and help them recover from the financial strain of the pandemic.

Their goal is ambitious, but with the support of their community, they're confident they can make it happen.

R. Shea Brewing has been open since 2015 in Akron and has become a staple to the community.

The brewery is facing a variety of issues, including high-interest rates on their SBA Loan for the Canal Place location buildout, wage and material inflation, and a decline in the overall national craft beer market.

R. Shea is asking for over $2 million in a GoFundMe to keep the business afloat.

As of November 2, the brewery has raised just over $8,100 via the GoFundMe.

The brewery plans to use the funds to pay off the high-interest SBA loan, keep working capital, and finish the remodel of their Valley location.

R. Shea's long-term plan is to focus the Canal Place location to be more of an entertainment venue.

The brewery also plans to hire additional salespeople throughout Ohio for deeper market penetration.

Despite fundraising efforts, R. Shea will be closing both locations on March 3.

The brewery's downfall was caused by a combination of factors, including increasing interest on a Small Business Administration loan, inflation, and a decline in taproom sales.

In the fall, the brewery held a town hall and launched a 60-day fundraising campaign to raise $2.3 million, which ultimately raised over $25,000.

The funds from the GoFundMe campaign helped pay employee wages when sales plummeted in January.

R. Shea Brewing has been open since 2015 in Akron, Ohio, and has become a staple to the community.

The brewery is facing economic troubles, including high-interest rates on their SBA Loan for the Canal Place location buildout, wage and material inflation, and a decline in the overall national craft beer market.

R. Shea Brewing has launched a GoFundMe asking for over $2 million to keep them in business.

Owner Ronald Shea plans to use the funds to pay off their high-interest SBA loan and keep the rest for working capital to adapt to the next few years.

The brewery aims to finish the remodel of their Valley location and focus the Canal Place location to be more of an entertainment venue.

As of November 2, the brewery has raised just over $8,100 via the GoFundMe.

This is a significant amount, considering the initial goal was over $2 million.

R. Shea Brewing is counting on the public's help to stay afloat.

The brewery's owner, Ronald Shea, is committed to using the funds wisely and ensuring the business's long-term success.

The community's support will be crucial in helping R. Shea Brewing overcome their current challenges.

R. Shea Brewing Co. will close both its locations in Merriman Valley and downtown Akron on March 3.

The brewery had launched a GoFundMe to raise $2.3 million to save the business, but unfortunately, it wasn't enough.

R. Shea Brewing Co. opened its original location in Merriman Valley in 2015 and expanded to Canal Place in 2020.

The brewery's downfall was largely due to increasing interest on a Small Business Administration loan owner Ron Shea took out in 2019.

Inflation increased wages and material costs for hops and other ingredients Shea uses in his craft beer offerings.

The brewery held a town hall in the fall where management implored the public to financially contribute to the brewery's 60-day fundraising campaign.

The subsequent "Help Save R. Shea Brewing" GoFundMe page raised over $25,000.

The funds from the GoFundMe campaign helped to pay employee wages last month when sales plummeted.

R. Shea employs over 50 people, many of whom live paycheck to paycheck.

The brewery's closure will give employees a 2-3 week heads-up to find new employment.

R. Shea management promised to give staff several weeks notice instead of shutting the doors immediately without notice.

The brewery's social media post explained that the industry is the most challenging it's ever been, with interest rate inflation, wage inflation, material inflation, and declines in distribution and taproom sales.