R.Shea Brewing is facing tough times from a variety of issues including high interest rates on our SBA Loan for the Canal Place location buildout, wage and material inflation to a decline in the overall national craft beer market which is translating to a huge drop in revenue along with a large rise in costs. We can't easily make up the difference from our two taprooms and we only have enough working capital left for another two quarters then we will have to make some very difficult decisions, one possibly being a closure of both of our locations.
The attached video goes into some more details of our predicament, but while there is still time, we are doing this GoFundMe to raise capital to continue operations and, if we reach our goal, to secure our success for many years to come in this new, post-Covid market.
We will be using these funds to pay off our high interest SBA loan, while also keeping the rest for working capital to allow us to adapt the next few years. We also plan to finish the remodel of our Valley location. Long-term we plan to focus the Canal Place location to be more of an entertainment venue. We are not going to forget about distribution in this temporary declining craft beer market but we plan to hire additional sales people throughout Ohio for deeper market penetration. This will eventually lead to expanding into outside markets.
Please follow our social media for more videos that go into the details of why we got to the point, the decline in the craft beer market and other focused topics.
No raffles, sweepstakes, giveaways, or returns on investment are offered in exchange for any donations made this GoFundMe.
Please share on all of your social media! #RSheaFuture. #SavingRShea