Jacob Mckean is the co-founder of Modern Times Brewery, a craft beer company based in San Diego, California. Jacob got his start in the beer industry as a home brewer, and he soon recognized a gap in the market for high-quality, innovative beers. In 2013, Jacob and his business partner opened Modern Times Brewery, and the company has been growing rapidly ever since. Jacob's passion for brewing delicious beer and his commitment to quality have made Modern Times one of the most popular craft breweries in the country.
What Happened With Modern Times Brewery?
The brewery Modern Times is citing the pandemic and “global declines in the craft beer industry” as their reason for closing four of their taprooms. They opened a taproom in Oakland in December of 2019, but have now announced that it will be closing. This is just one example of how the pandemic is impacting businesses all over the world.
Who Owns Modern Times Brewery?
The Modern Times brewery is employee-owned. This means that the employees (everyone from the brewers to the janitors) own a piece of the company. This is Jacob McKean's single proudest achievement as Founder & CEO of Modern Times. He believes that this makes the company more stable and more accountable to its employees and customers.
What Happened To Modern Times?
In a nutshell, Modern Times is downscaling its operations in response to financial trouble. The company is closing four of its eight brewery taprooms, and is refocusing its distribution solely on California and the Southwest. This drastic measure is intended to help Modern Times get back on track financially.
There are a few factors that led to Modern Times' current predicament. First and foremost, the craft beer market has become increasingly competitive in recent years, with more and more breweries entering the fray. This has led to a decline in overall beer sales, as well as decreased profitability for craft brewers. Additionally, Modern Times has been hurt by high production costs and increased operating expenses.
Ultimately, Modern Times decided that downsizing was necesary in order to stay afloat. The company is hopeful that this new strategy will allow it to stabilize its finances and continue brewing quality beer for years to come.
Where Was Modern Times Founded?
Modern Times was founded in Point Loma, San Diego in 2013. The brewery started as a 30bbl production brewery and tasting room, and has sine grown into one of the most popular craft breweries in Southern California. Modern Times is well-known for their innovative and experimental beers, as well as their acclaimed coffee roasting program.
Is Modern Times Brewery Independent?
Yes, Modern Times is an independent brewery. It is not ownd or operated by a macrobrewery like Anheuser-Busch InBev or MillerCoors.
