Switchback Ale is owned by its employees through an Employee Stock Ownership Plan (ESOP). This unique ownership structure was established by founder, brewmaster, and president Bill Cherry in 2017. By turning ownership of the brewery over to the employees, Switchback has ensured that it will remain locally-owned and -operated forever.
Bill Cherry's decision to make Switchback 100% employee owned was a bold and progressive move. It not only demonstrated his commitment to the brewery and its employees, but also reflected his belief in the importance of community and local ownership. This decision sets Switchback apart from many other breweries and businesses in the industry, where ownership often changes hands or becomes diluted over time.
The employee ownership model has several benefits for both the brewery and its employees. Firstly, it creates a strong sense of ownership and pride among the employees. Knowing that they have a stake in the success of the brewery, they are motivated to work hard and contribute to its growth. This can result in increased productivity, improved customer service, and a positive work environment.
Furthermore, the employee ownership model aligns the interests of the employees with the long-term success of the brewery. As owners, they have a vested interest in the profitability and sustainability of the business. This encourages them to think like entrepreneurs, making decisions that benefit the company as a whole rather than just their individual roles.
Employee ownership also provides financial benefits to the employees. Through the ESOP, employees receive shares of the company, allowing them to build wealth and secure their financial future. As the brewery grows and prospers, the value of these shares can increase, providing a valuable asset for the employees.
Switchback's commitment to remaining locally-owned and -operated is significant for the community as well. By keeping ownership within the local community, Switchback ensures that the brewery's success directly benefits the people and economy of the area. This local focus can also lead to increased support and loyalty from customers who appreciate the brewery's commitment to their community.
Switchback Ale is owned by its employees through an Employee Stock Ownership Plan (ESOP). This unique ownership structure reflects founder Bill Cherry's commitment to the brewery and its employees, as well as his belief in the importance of local ownership. The employee ownership model brings numerous benefits to both the brewery and its employees, including increased motivation, aligned interests, and financial rewards. By remaining locally-owned and -operated, Switchback contributes to the prosperity of its community and builds strong relationships with its customers.