The Impact of Economic Troubles on R. Shea Brewing: A Reflection of the Brewery’s Closure in Akron
The demise of R. Shea Brewing in Akron has sounded the alarm for many small businesses, especially in the brewing industry. The Akron brewery closing is not just about a single entity shutting its doors; it epitomizes the broader economic troubles of breweries and other small businesses grappling with the aftermath of unforeseen circumstances like the COVID-19 pandemic. This article delves into the multifaceted reasons that led to the shutdown, signaling a need for awareness and adaptation in rapidly changing times.
R. Shea Brewing Closure: A Harsh Reality Check
Founded in 2015, R. Shea brewing became a beloved staple in the Akron community, known for its innovative craft beers and welcoming atmosphere. Yet, despite its initial success, the brewery announced its heartbreaking decision to close both its locations. This decision was influenced by a cocktail of economic factors, including but not limited to interest rate inflation, wage inflation, material inflation, and a steep decline in both distribution and taproom sales.
The timing couldn’t have been more adverse. The brewery’s expansion plan, conceived in the more stable economic environment of 2017-2018, met its nemesis in the form of the COVID-19 pandemic, which upended the economic equation, turning hopeful growth into a struggle for survival. The R. Shea Brewing closure serves as a poignant reminder of how quickly external factors can alter the course of a business.
Economic Troubles of Breweries: A Complex Brew
The challenges faced by R. Shea Brewing are not isolated. The economic troubles of breweries have become increasingly common, with many establishments fighting the same battles: interest rate increases, inflated costs for wages and materials, and the ever-looming specter of declining sales. These troubles are compounded for those who embarked on expansion or took significant loans based on pre-pandemic assessments.
Despite launching a GoFundMe to weather tough times, including combating high interest rates and inflation, the drop-off in sales beginning january proved insurmountable for R. Shea Brewing. This underscores the precarious nature of relying on external fundraising efforts as a lifeline in uncertain economic times.
Learning from the Akron Brewery Closing
The closure of R. Shea Brewing is a bitter pill to swallow, not only for the local community and the employees who considered it a dream workplace but also for small businesses everywhere. It emphasizes the importance of flexibility, financial planning, and the need to anticipate changes in the business environment.
It also highlights the deep impact of global events like the COVID-19 pandemic on local economies, showcasing how interconnected and vulnerable modern businesses are to worldwide shifts. Small businesses, particularly those in niche markets like craft brewing, must remain vigilant, adaptive, and resourceful to navigate the unpredictable tides of the economy.
In tribute to R. Shea Brewing and the resilient spirit of small businesses, it is crucial to remember the value they bring to communities. Support for local businesses, in good times and bad, isn’t just beneficial—it’s essential for sustaining vibrant, diverse communities.
