Steamworks: empoderando al personal con responsabilidad como empleado
By: Jennalie Burroughs
When you walk into Steamworks Brewing Co. in Durango, Colorado, you’ll quickly sense something special beyond the delicious craft beers and vibrant patio. You’ll notice the staff exudes a genuine pride in what they do, and their warm, consistent service makes you feel right at home. You’ll also notice that the folks behind the bar and in the kitchen are truly passionate about their work, and that everyone feels really invested in working there, and that’s because many of them are.
Peak Food & Beverage, the parent company of Steamworks, El Moro Spirits & Tavern, and HomeSlice, is over 40% employee-owned. More than 45 staff members, from bartenders and cooks to managers and brewers, now hold ownership in the business.
For co-founder and CEO Kris Oyler, that shift has been intentional. “We’ve really reduced turnover, and it shows on the bottom line and our profitability. People just care. They’ve got skin in the game, they’re watching closely, they take it to heart, they’re not just clocking in and clocking out. It makes a big difference in their attitude and performance,” he says.
Today, Peak owns five restaurants, employs up to 275 people during the busy summer months, and brings in six times the revenue it did when it was founded in 1996. Oyler says he never imagined Steamworks would become such a pillar of the Durango community.
Hacer que la propiedad sea accesible
Oyler didn’t always own a large portion of the company himself. In the early days, he was a manager who received a 3% profit interest. That early model laid the groundwork for how Peak would evolve its ownership structure over time.
The ownership of the company is divided into 1,500 units (more commonly known as “stock”). Employees can purchase units (currently valued at approximately $6,500 each, financed by the company and paid off over five years at 5% interest through weekly payroll deductions. As soon as payments begin, employees receive full ownership rights and profit distributions. The company finances these buy-ins through its own cash flow, meaning employees don’t need to secure loans themselves, and Peak doesn’t rely on outside capital to support the ownership plan.
A Stake in the Future
In an industry known for high turnover, employee ownership at Peak has had a noticeable impact on culture and retention. Staff stay longer, and some who joined nearly two decades ago are now long-term employee-owners.
“I’ve been in 17 years, and I bought in year 2, and now I’m seeing tremendous value. Without this, I wouldn’t have some of the opportunities I have now. Before, I never made more than $20k/year, and lived in a tent. It kept snowballing, I invested in those investing in me, and now don’t live in a tent anymore” noted a current employee-owner.
For others, ownership is like a built-in savings tool. “It’s like a separate savings account that you have an option to take out if something pops up,” another employee-owner explained. Some also see it as a way to plan ahead, even if it takes time to understand the full benefits.
Values have appreciated significantly since 2022, with employees able to sell or transfer shares as needed. Some have used earnings for big purchases, while others treat it as long-term savings. There’s even a steady resale market within the company’s network.
A Culture of Transparency
Peak runs with a high level of transparency. Financials are regularly shared in meetings that include both owners and non-owners, and ideas are welcomed from across the team. “There’s no illusion that everyone makes every decision,” says one manager. “But when people understand what’s happening, they get more involved. They want to help solve problems.”
That sense of inclusion helps keep ideas flowing and creates shared accountability. Whether it’s finding ways to reduce waste or adjusting prices, employees have real insight and often, good ideas.
Regular meetings bring staff together to review profit and loss statements, brainstorm solutions, and talk through ideas. By sharing financials and fostering trust, Peak ensures that more people understand how the business operates and feel empowered to contribute to its growth. Also, since these all-staff management meetings include both owners and non-owners, it creates a shared space where everyone can learn how to run a business and problem solve.
Planning for the Future
Employee ownership is also a succession plan. For Oyler, it’s a way to step back eventually without selling to an outside buyer who might change the business entirely. “I’ve seen companies get sold and the culture disappears,” he says. “This way, the people who built the company are the ones who carry it forward.”
There have been challenges, like figuring out what to do when an owner leaves the company, but Oyler says the benefits far outweigh the complications. At the end of the day, he believes employee ownership is one of the reasons Steamworks is still growing nearly 30 years after it started.
For him, it’s about preserving the legacy, not just of the business, but of the people behind it. Employee ownership allows Steamworks to stay rooted in its values and its community. And for other business owners thinking about what comes next, it offers a powerful reminder: succession doesn’t have to mean letting go. It can mean handing the reins to the people who helped build it, and giving them a real stake in what comes next.
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