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Pennsylvania

Driftwood Oven

About Documents
250%
$150,000 Funded
$60,000 Target
Closed Time Left
70 Investors
$60,000 Min. Raise
$150,000 Max. Raise
60 mo. Term Length
8.5% Interest Rate
Closed

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Overview

Since 2015 we have traveled around Pittsburgh with our mobile, wood-fired oven baking sourdough pizza and bread. Our travels have taken us to coffee shops, breweries, farmer’s markets and private events all over our hometown. In exploring Pittsburgh’s various neighborhoods, we have met new friends and reconnected with old ones, and we've done our part to reintroduce the ancient technique of sourdough baking to a wide audience. 

Driftwood Oven has won awards for our pizza and received both local and national acclaim for the food that we produce. This, we believe, is due to our keen eye to detail and an insatiable appetite for seeking out the best products to feature on our pizza. 

Our mozzarella is made from the milk of grass-fed cows at Caputo Brothers Creamery and stretched daily. Our fresh meats are raised humanely at Goodness Grows Farm in Butler, PA. The vegetables atop our pizza are grown by our friends at Who Cooks For You Farm; when the Western PA growing season winds down, we rely on the East End Food Co-op for organic produce. 

Most essential to our product is its foundation, the dough. It is made from organic flours that are procured from Frankferd Farms in Saxonburg, PA. We ferment our dough slowly, the Old World way, with a sourdough culture. The crust we bake is crispy on the outside and chewy and flavorful on the inside. The fermentation process creates a dynamic depth of flavor, unmatched by any yeast-risen dough. Our bread is not merely a vessel for sauce, cheese and toppings; we take pride in going the long-way-round to provide you with a pizza that is rich with flavor, well-crafted, and that is nourishing to your body.

We are raising $150,000 at an interest rate of 8.50%, paid over a six-month interest-only period and a 54 month fully amortizing period.

 

Our ingredients are locally-sourced whenever possible.

 

The Project

Double Stack Convection Oven - $8,239
Dough Sheeter - $8,500 
Spiral Mixer - $8,700 
New Point of Sale System - $2,500 
Two Door Reach-in Merchandiser Cooler - $3,800 
General Construction: new floors, new stations, bakery case, new bar, new lighting, a complete renovation of the dining room space - $119,000

With the completion of the construction, Driftwood Oven will, in essence, triple its ability to produce revenue. Currently we operate on a 5 service shift a week schedule. With the construction we immediately acquire the ability to be open for morning bakery hours, lunch sales, and dinner. This produces two additional revenue streams each day we are open. 

In addition, our ability to cater increases substantially. With the additional prep space, we will be better able to execute large catering orders and many smaller ones each day. We envision making office style lunch pickups, or drop offs depending on the client. 

With the additional refrigeration that our customers will have access to, we plan to sell more prepared foods. Lawrenceville lacks any sort of small market space. We will be retailing handmade cheese, pasta, bread, sauces, and more as we continue to grow into our new space. 

Our vision is that Driftwood Oven can be anyone's neighborhood spot. Want a slice real fast? We got ya. Need some eggs because you have a surprise house guest? We got ya there too. Big party this weekend? We can bring our mobile oven to your place and throw a bash! We love the community that supports us and we simply want to be there for them in more ways than we currently are.

 

We are the only sourdough pizzeria in Pittsburgh.

Business

History

Driftwood Oven is the vision of Neil Blazin. In November of 2012, while Neil was working at Legume Bistro in Oakland, he began a new hobby: baking sourdough bread. He would stay up late watching bread bake in the early hours of the morning in his home oven, carefully monitor his sourdough starter, and continually bring bread into Legume for his co-workers and the chef/owner to try. 

After a couple months of baking bread at home, Trevett Hooper, the chef/owner of Legume, asked if Neil was able to make bread for the restaurant! His first bread gig! He loved it. And the customers were very happy with the house-made bread. This pushed Neil to expand his operation and begin supplying bread for the Penn's Corner Farm Stand. He would bake bread in the closed Legume Kitchen on Sundays. Then he would bike it over to Penn's Corner in East Liberty towing a trailer of bread behind. 

Fast forward to June of 2015. Neil left Legume Bistro to pursue his own path. Neil purchased a mobile wood-fired pizza oven, acquired a business partner, and off he went in August of 2015 baking pizzas all over Pittsburgh. 

After much acclaim over the two and a half years of towing an oven around, a restaurant space came available in Lawrenceville and we could not pass up this opportunity. We turned to our customer base and asked for support via a Kickstarter campaign. Driftwood's many supporters generously gave nearly $48,000 to turn the mobile pizzeria into a full-service brick and mortar restaurant. 

In our first year as a full-service restaurant we received notoriety for our great food from both local and national press. We have seen an increase of 100% growth in revenue from our first year to second, and prior to the pandemic, was on course for another record-breaking year.

The only sourdough pizzeria in Pittsburgh, we received national recognition with Bon Appetit top 50 new restaurants in 2018, and more locally with Pittsburgh Magazine Best Restaurant, 2018-2020.

 

Our market pie.

Future

Over the course of the next 1-3 years Driftwood Oven will continue our community-oriented vision by continuing to offer higher than industry standard pay, paid benefits, a safe and inclusive work environment, upward mobility for our staff, and continuing to grow the community outreach and charity portion of our business. 

We plan to further our foothold in the Lawrenceville area by offering new and exciting food-based products and services. We listen closely to our customer base and respond fairly well to the demands of that base. We will continue to offer more products and packages as we settle into the newly constructed space. 

We have also acquired a long-term lease to ensure that we will be able to take maximum advantage of any loan money coming our way. Over the next 10 years we will be well-established as a Pittsburgh staple and deeply involved in the community that supports us.

 

We offer desserts as well, such as this pumpkin strudel with ginger snap crumble.
 

Reviews

4.8/5 out of 472 Google reviews
4.5/5 out of 166 Yelp reviews
5/5 out of 58 Facebook reviews

 

Our buffalo chicken pie.

 

About the Owner

Neil Blazin

Neil Blazin is a father, husband, entrepreneur, and overall nice fella. He has been working in restaurants since he was 17 years old and in 2015 decided to start his own venture. That venture actually began when Neil started baking bread and pizza at home in November of 2012. In 2015, after selling bread to farm stands, and running a bread subscription, Neil purchased a mobile wood-fired pizza oven on a trailer. He and his business partner towed it around Pittsburgh for two plus years, establishing great relationships with customers as well as businesses. In 2018 Neil transitioned his mobile business into a very successful, full-service, restaurant, even receiving a nod from Bon Appetit magazine for best new restaurant in 2018. Neil looks to continue his vision by expanding the once evening only, full-service restaurant into an all day venture with Baked goods available in the morning and pizza and savory things starting at lunchtime.

 

Our arugula pie.

Deal Summary

Deal Summary

 Issuer

 Driftwood Oven LLC

 Doing Business As

 Driftwood Oven

 Security Type

 Secured loan

 Loan Purpose

 Purchase equipment + construction

 Offering Amount

  $60,000 - $150,000

 Interest Rate

 8.50% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only + 54 months fully amortizing 

 Personal Guaranty  

 Neil Blazin

 Security Interest

 Blanket lien on assets of company 

 Offered Portal 

 Honeycomb Portal LLC

 Offering Type

 Reg CF

 

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 Driftwood Oven 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

 Return: Interest-Only Period* 

 Potential Quarterly

 Return: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85   $2.12   $6.71   $124.94
 $500  $14.25   $10.62   $33.53   $624.70
 $1,000  $28.50   $21.25   $67.05   $1,249.41
 $5,000  $37.25   $106.25   $335.25   $6,247.04

Your ongoing responsibilities from investing are very limited. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts.*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 hybrid interest-only + amortizing loan, which means that there is a specified interest-only period followed by a an amortization period. There are no prepayment penalties and Driftwood Oven 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.

Driftwood Oven 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 the investors' behalf.

 

How Honeycomb is Compensated

Honeycomb charges Driftwood Oven LLC a $250 posting fee and a 6.0%-8.0% loan origination fee on the total amount funded.

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

 

Testimonials

View our
Offering Documents

Updates

Comments

Q & A

+ Nothing need be said about 2020. In 2019, the business enjoyed twice the revenue--but half the profit--compared to 2018. Though there are likely solid reasons for this performance, a brief explanation would be helpful.

We purchased a variety of large equipment purchases such as a walk-in cooler, and our new mobile oven. We also purchased thousands of dollars in smallwares to make production efficient.

+ Hi, the project budget is $150,000. The max net proceeds of the loan is approximately $139,000. Where will the additional funds come from to cover the budget and any cost overruns?

We have cash on hand to bridge the gap if anything goes over budget.