Introduction

Porky’s Bar and Grill has been staple in the Etna community for over 124 years. By providing exemplary customer service and a vast selection of craft beers, we are the premier tap house and bottle shop that “the locals” go to in and around Etna. We launched a full catering menu in early 2019, and since then, we've done numerous on- and off-site catering events, including Hartwood Summer Concert Series, Iron City Steeler tailgate parties, food truck rallies, charity events, pig roasts, and weddings. We will grow our catering business into 2020 with additional marketing campaigns.

We will continue to serve the Etna borough communities with a constantly rotating inventory of beer from all around the world, including the growing American craft beer market. In addition to the bottle selection, taps will rotate with a continuously changing array of offerings. We will also offer an expanded menu including meat smoked on our 16ft tow-behind smoker and many homemade food favorites.

We are looking to borrow up to $107,000 at an interest rate of 10.50% over a 60 month term.


The bar at Porky's features 28 taps.


About Porky's Bar and Grill

Porky’s first opened in 1895 under the name Zillow 6 and has stayed continuously open; during Prohibition, our secret signal for serving alcohol was a red light in the kitchen. In 1943, a gentleman by the name of Porkiviets bought the bar, and in true Pittsburgh fashion, cut his last name in half and began calling the place Porky's. Brian and Virginia Heffernan bought the bar in 1992.

In 2004, a major flood hit Etna. The flood waters rose quickly in the bar and the water line can still be seen high up on the wall to this day. It took many hands to get the bar back into shape to open the doors. Luckily, with many devoted patrons, family, and friends, we were able to reopen the doors a few weeks later.


Porky's has been an Etna staple for 125 years.


Brian and Virg began looking to sell Porky's in the mid-2010's, but were searching for the right type of new owners to take it to the next level. They had a good following of patrons that had become like family through the years, and they wanted to make sure that the regulars would feel just as at home under the new ownership. Finally, in June of 2018, they sold it to Chad Jockel and Nick Weiss.

Chad and Nick hired the existing staff and wanted to keep a similar feel while also implementing some small changes to enhance Porky’s. The first addition was expanding the draft list by 14. This introduced local crafts beers from around the country, and brought in another kind of customer. The second change was adding two high-end chefs that would help them broaden and revamp the current food menu. Since then, the local community has been raving about the expanded draft list and the delicious smoked and homemade food.


The buffalo chicken pizza.


Porky’s future is bright and we are looking to continue to grow the business. The food menu continues to expand with lots of new specials. The 16-foot tow-behind smoker is brought down to Porky’s on a regular basis to fill the community with the wonderful smells of smoked brisket, ribs, pork, wings, half chickens and anything else the chefs would like to smoke. We have also expanded our hours by serving brunch on Sunday’s––making Porky’s the only spot in Etna where a brunch menu is served weekly. Our chefs have created a delicious recurring menu weekly and continue to add new brunch items that the local patrons love. In addition to the food menu, the bartenders have created specialty cocktails to feature with the brunch menu. In the next three years, we look to continue increasing sales with all aspects of the current business. The catering business will continue to grow with a new marketing campaign and referrals from past customers. In the last year ,the catering has expanded to a number of corporate contracts with a lot of return customers.


Porky's serves cocktails in addition to craft beers.


With a commitment to the local Etna community, we are involved in the local Etna Economic Development Corporation. Since taking over the restaurant, Chad and Nick haved volunteered with this group in order to help build out the local business district in Etna. We aim to attracted folks from Etna and beyond to our business district, strengthening all Etna's local businesses.

With social media, website, and print media marketing strategy, our sales numbers continue to grow by 20% each year. With the catering business' continual expansion, we look to push growth by more than 20% each year going forward.


We cater lots of outdoor events like this one.


Fast Facts

  • Porky’s has been staple in the Etna community for over 124 years.
  • Most of Porky's bar staff have been working as this establishment for over 20 years.
  • Porky's is the only spot in Etna that serves a brunch menu weekly.
  • The new owners exceeded the previous owners' highest sales date within the first six months of ownership.
  • Porky's Catering has done a number of external events including a pig roast for a wedding this past summer.
  • Porky's features 28 taps and serves many rare craft beers that you can't get anywhere else in Pennsylvania.

The Project

We will be using the funds to consolidate start-up debt, which incurred from buying the building, business, and equipment. In addition to the debt consolidation, we are looking to make exterior improvements with a new sign in front of the business. Interior improvements include kitchen repairs, brick re-pointing, and fixture and furniture upgrades in the establishment.

The exterior improvements will enhance our curb appeal to our current and new customers, with a new sign featuring the current logo. The brink re-pointing will make the building more energy efficient for the future, and will assist with the curb appeal. Upgrading the fixture and furniture inside and outside on the patio will give a facelift to the current bar and outdoor area. While the look will be upgraded, we will remain to keep the historic look of the building with the old tin ceiling that you only see in buildings from its era.

With new repairs, the kitchen will run more efficiently, and this will shorten wait time on food orders. In turn, these upgrades will continue to drive food sales numbers up, keeping our customers happy without losing quality. The debt consolidation will help us with cash flow and allow us continue expanding the business; with an increased cash flow, we can upgrade equipment quickly, continue to make the business more energy efficient, and allow us to continue to expanding the catering business with marketing, equipment, and increased employee payroll.


Part of the funding will go toward a new sign featuring the logo.


About the Owners

The Porky's ownership is a partnership between Nicholas Weiss and Chad Jockel. We have more than 20 years of combined experience within the craft beer industry, where we have been able to learn about the trends of the industry and have gained deeper knowledge of ingredients, styles, flavors, and the brewing process.

Chad Jockel's background includes working at a high-end beer distributor as the assistant manager. There, he gained his knowledge of the craft beer industry and sales. He interacted with various vendors on their products and assisted management with their daily business operation activities. He continues to learn about the craft beer industry by attending beer tastings and also participates in forums to stay current on the ever-changing craft beer market. He spent some time in the golf industry, managing 15 employees. There, he was able to develop additional skills in marketing and sales by setting sales goals for his team. Chad will handle the day-to-day operations of the business including management of the employees, shift scheduling, and daily product orders. In his current position as Service Manager with Precision Laser & Instruments, he is in charge of daily operation activities and manages 11 employees in a multimillion dollar service department. He has been the Porkys LLC operation manager since June 2018 where he handles daily opening operations, ordering, marketing, and management of the bar & kitchen staff.

Nick Weiss’s experience includes more than 10 years of home brewing. This background has given him a vast amount of knowledge into the product, brewing process, and the ever-changing craft beer industry. He serves at beer tastings all across Western Pennsylvania with a local home brew club, which has monthly meetings where members discuss the home brewing process and the craft beer market. In his current career, he has more than 10 years in a corporate environment managing multiple employees within payroll, HR, and IT functions at Kraft Heinz Company, as well as experience in project management where he manages multiple projects within very tight deadlines. Nick will remain at his current job in the first few years of operation. He has been handling the event planning, daily financials, payroll and inventory since Porkys LLC operation began in June 2018.


The owners, Nick Weiss (L) and Chad Jockel.


Deal Summary

Issuer

  Porky's LLC

Security Type

  Secured Loan

Loan Purpose

  Refinance of debt and buildout of restaurant and bar area including equipment, furniture,  

  and fixture purchases and construction costs.

Offering Amount

  $10,000 - $107,000

Interest Rate

  10.50%

Payments

  Monthly, Disbursed to Investors Quarterly

Maturity

  60 months

Personal Guaranty  

   Nicholas Weiss and Chad Jockel

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 Porky's LLC.

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

Investment Amount One-Time Fee Potential Quarterly Returns* Potential Total Repayment*
$100 $2.85 $6.44 $128.96
$500 $14.25 $32.24 $644.81
$1,000 $28.50 $64.48 $1,289.63
$5,000 $37.25 $322.40 $6,448.17

*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. These amounts are calculated as a fully amortizing loan: principal and interest are paid down starting with the first payment. There are no prepayment penalties and Porky's 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.

Porky's 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 Porky's LLC a $250 posting fee and a 6.0% - 8.0% loan origination fee on the total amount funded.

Total Amount Raised Origination Fee
$10K - $19,999  8.0%
$20,000 - $50,000  7.0%
$50,000+  6.0%

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

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