SCHEELS is currently 100% employee-owned through an Employee Stock Ownership Plan (ESOP).
The Evolution of SCHEELS Ownership
For much of its history, SCHEELS operated as a family-owned business. This traditional structure changed significantly in 1991 when the company transitioned its ownership model to an Employee Stock Ownership Plan (ESOP).
From Family to Employee-Owned
The conversion to an ESOP marked a pivotal moment for SCHEELS. This strategic move shifted ownership from a single family to its entire workforce. Under this plan, every associate at SCHEELS became an employee-owner, fostering a deep sense of pride and direct involvement in the company's performance and growth.
Key Aspects of SCHEELS' Employee Ownership:
- 100% Employee-Owned: SCHEELS is entirely owned by its employees, distinguishing it from many other large retailers.
- Empowerment: The ESOP model empowers every associate, giving them a personal stake in the company's success.
- Pride and Investment: Employee-owners are deeply invested in the business, contributing to its ongoing success and expansion.
- Leading ESOP Company: SCHEELS stands as one of the largest ESOP companies in the United States.
Understanding the Ownership Structure
The table below illustrates the fundamental shift in SCHEELS' ownership structure over time:
| Aspect | Pre-1991 Ownership | Current Ownership (Post-1991) |
|---|---|---|
| Owner Type | Family | Employees |
| Ownership Model | Traditional Family Business | Employee Stock Ownership Plan (ESOP) |
| Ownership Stake | Centralized control | Distributed among all associates |
| Key Benefit | Family legacy | Shared success, empowerment, and pride in company growth |
This employee-centric ownership model encourages a culture where individuals are not just employees but active participants in the company's future, contributing directly to its growth and success.
