The event was started in 1999 at the Beaverlodge Firehall as a fun event for firefighters and local emergency services staff. This smaller event ran for 2 years at the firehall, with trucks parked on the front parking pads. Tables were set up in the fire hall, where the cooking was done. 

Even at the start, this event was a small fundraiser for non-operational expenses for the department, through donations. The demand was shown for a larger event. The event was then moved to the community centre, to accommodate the large interest from the public in approximately 2002. The event became very popular, with the firefighters doing all of the work until 2006. Having to spend too much time working the event and not having enough time to enjoy it, firefighters decided to hire caterers and bartenders for the next few years.

In 2009, the lobsterfest was moved to the Beaverlodge Curling Club, due to an even higher demand for the event. The event continued to grow each year that it was held in the Curling Club. In 2011 approximately 425 tickets were sold. The lobsterfest has grown to a size where firefighters have had to work the majority of the event and were unable to enjoy themselves. The department members have decided to move the event back to the community centre, and also use a small portion of the new recreation facility to house a manageable and enjoyable event for everyone.