Introduction

With over twenty years in the food and beverage industry, Jacqueline and Nathan Schoedel are set to open the restaurant they have been dreaming of for years. The Speckled Egg will be a full-service restaurant in the lobby of the historical Union Trust Building in Downtown Pittsburgh and will include breakfast, lunch, and happy hour––as well as a full bar, grab and go, and catering options to serve the 800 building tenants and others downtown.

After one year of successful business in our original location, we will be working on opening multiple locations in the greater Pittsburgh area.



About The Speckled Egg

At The Speckled Egg, a customer can expect to get a delicious breakfast, lunch, or sit down for happy hour. We will be using a local coffee roaster offering a full espresso bar. If you are looking for something a little stronger, The Speckled Egg has a full bar program.  Who says brunch can’t be everyday? Champagne only makes orange juice taste better! If you don’t have the time to sit down to eat, please feel free to stop at the counter to pick up some delicious pastries, salads, soups, sandwiches, and many other on the go meals. 

When you walk into The Speckled Egg, you should feel like you are walking into your friend's house. A place where you can spend 5 minutes or 5 hours. Where you can get some grub and grab a drink but you won’t have to wash the dishes. We thrive off of good vibes and want everyone to have a nice time. 


Jacqueline working at Josephine's Toast in Smallman Galley.


Nate grew up in a diner helping his mother with little tasks like peeling potatoes and cracking eggs. His passion for this type of restaurant work started when he was very young. Jacqueline opened Josephine’s Toast in the Smallman Galley where her concept thrived during breakfast and lunch hours. One Sunday they were both working at Jo’s Toast during an especially busy service, and Jacqueline had to get more eggs out of the cooler. In that moment, looking at those speckled eggs, during all the brunch commotion, she realized that this was really what she loved. With the hustle and bustle of the brunch, working with her husband, life really is beautiful.

The Speckled Egg is the first of its kind in Pittsburgh.  The concept has been on our minds for a few years now, and the vision for The Speckled Egg has become more clear with time.  When the opportunity to be in The Union Trust Building presented itself, we got excited. It is in the lobby of a highly trafficked building in Downtown with over 800 tenants working in it five days a week.  With so many people working and living downtown, it’s our pleasure to provide a place where people can come and get wholesome food and coffee 7 days a week. 



 

As chefs, we try to learn from everything that surrounds us, from big successes to great failures. For every job we have had in the past, we have learned lessons on how to be a better cooks, better managers, and even better people. The restaurant business is a colorful mix of so many people from different backgrounds and educations. We both have learned so much in the years past, and will continue to learn as we run this restaurant together. 


The Speckled Egg will be in the lobby of historic Union Trust Building.


Fast Facts

  • Owned by graduates of the Art Institute School of Culinary Arts

  • Located in the historic Union Trust Building

  • Twenty years in the Restaurant Industry

  • Full coffee Bar

  • Full Liquor License

  • Grab n’ Go options available

  • Featuring Commonplace Coffee


 

Coming soon!


The Project

We have signed a 10 year lease with the Davis Companies for The Speckled Egg in the Historical Union Trust Building in Downtown Pittsburgh. This 2,432 sq ft full-service restaurant in the lobby will include breakfast, lunch, happy hour, along with a full bar, grab and go, and catering options to serve the 800 building tenants and downtown Pittsburgh. 

The Davis Companies is responsible for building of the restaurant along with purchasing the liquor license. Of the total build out, $165k + liquor license will be amortized over the life of the lease. 

The requested start up funds are mostly food, labor, and contingencies to ensure the opening is as successful as possible. 

The Speckled Egg is the final piece to the over $100 million dollar renovation to this historical landmark in downtown Pittsburgh. 

Investing in this project will help The Speckled Egg get off on the right foot during our opening launch. Helping stock their fridge with ingredients, train staff, and paying pesky bills like utilities and insurance.
 

Below is list of our expected use of funds:

Cost Description

$9,200

Startup food costs

$10,300

Startup labor costs

$14,500

Utilities/Misc Exp

$10,000

Incidentals

$44,000

Total


How The Speckled Egg Will Be Profitable

In the past we have experience opening successful restaurants. Josephine’s Toast was profitable in year one with no employee turnover. Through that experience we met acquaintances that helped us secure this location in The Union Trust Building. The building is at over 90% occupancy with more than 800 people walking past our restaurant daily. The contract with the building owners, The Davis Companies, includes a liquor license. The margin for profit in alcohol sales is between 60-80%. We have secured multiple corporate catering contracts that ensure monthly revenue in a prime location downtown.


About the Owners

Jacqueline Schoedel

Working her way around the Pittsburgh area, some of the most rewarding aspects of her career are the welcoming of new challenges, openness for continuous learning, leading a team, and creating great food.  While never losing her sense of humor in an industry that never stops, she has a way of keeping everyone smiling.

Nathan Schoedel

Throughout his entire life––as a son watching and helping his mother, being a chef at various restaurants and his experience in the agricultural field––Nathan has developed a deep love and appreciation for what food is and where it comes from without forgetting the importance of great times around a shared meal.


Husband-and-wife duo Nathan and Jacqueline Schoedel.


Deal Summary

Issuer

  Hen Fruit LLC

Security Type

  Secured Loan

Loan Purpose

  Purchase of equipment and other startup costs

Offering Amount

  $30,000 - $50,000

Interest Rate

  12.00%

Payments

  Monthly, Disbursed to Investors Quarterly

Maturity

  6 months interest-only followed by 36 months fully amortizing  

Personal Guaranty  

  Jacqueline Schoedel and Nathan Schoedel

Security Interest

  Blanket lien on assets of company

 


Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Hen Fruit LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials.

Investment Amount One-Time Fee Potential Quarerly Returns* (Interest Only Period) Potential Quarterly Returns* (Amortizing Period) Potential Total Repayment*
$100 $2.85 $3.00 $4.98 $125.57
$500 $14.25 $15.00 $49.82 $627.86
$1,000 $28.50 $30.00 $99.64 $1,255.72
$5,000 $37.25 $150.00 $498.21 $6,278.58

*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest, they do not include the one-time fee which is assessed when you make your investment. There are no prepayment penalties and Hen Fruit LLC. may pay down their loan early which may impact your earnings potential. Please note, returns are not guaranteed and investors could lose some or all of their investment.

Your ongoing responsibilities from investing are very limited. Each year over the life of the loan you will receive a 1099-INT, this is a simple tax document similar to what you receive for most savings accounts.

Hen Fruit LLC pays as agreed, you will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the Administrative Agent to manage the collections process on investors' behalf.

 


How Honeycomb is Compensated

Honeycomb charges Hen Fruit LLC a $250 posting fee and a 6.0% - 7.0% loan origination fee on the total amount funded.

Total Amount Raised Origination Fee
$30,000 - $49,999 7.0%
$50K + 6.0%

 

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

Like what you see?  Check out our other campaigns here!