small-scale food enterprise? Buying an interest-bearing “MUFFIN NOTE” from
350°BAKERY is a great way to accomplish this and ensure that you’ll keep finding our
yummy, high-quality baked goods at NEW MORNING FARM’s Saturday market.
We are JANE CRAWFORD (yes, Jim and Moie’s daughter) and BARB REALE, best friends
from grade school (now 35 years old) and business partners in Pittsburgh’s up-and-coming
350°BAKERY. For two years now we’ve been baking ALL YOUR PIES, COOKIES, and other
goodies that you find here at New Morning Farm’s market every Saturday. We bake
everything in our certified kitchen on Friday afternoons, then rush them (still warm!) down the
PA Turnpike to the farm, and from there to you on Saturday mornings.
In as many cases as possible we use ingredients from New Morning Farm or other local
farms. We never use preservatives, trans-fats or other strange-sounding ingredients.
Everything is done in small batches, by hand, in our up-to-date, inspected bakery, using both
classic and unique, not-too-sweet recipes. AND Farmer Jim (famous for his discriminating taste
in food) personally taste-tests and approves all our new items!
We, Jane and Barb, have been baking together for years. It’s our passion! And our 6-yearold
350°BAKERY is becoming well-known as a wholesale supplier of desserts and coffeeaccompaniments
in local coffee shops and restaurants in the Pittsburgh region.
In 2016, with demand for our products increasing, we began looking for a location to house
our own commercial kitchen and retail store. After a long search and several possibilities, we
landed on a vacant tire shop in our own neighborhood that had great potential for making
our entrepreneurial dream a reality. It was far from spiffy, but was the perfect size and a
good location on a busy street in a residential part of Pittsburgh. We saw great possibilities
for the production facility we needed for our growing wholesale business, with plenty of extra
space to house our future retail store.
We were excited! We made a business plan, got lots of good advice, and found several lowinterest
investors (including New Morning Farm). Our blueprints for the production area were
good, and our contractor did a good job of transforming the old tire shop into a
modern, efficient bakery, where we’ve been working for the past year.
So far, so good: great kitchen, great equipment, great production, expanding markets.
HOWEVER, we’re stalled on the next step— our retail store, which we know will be the key to
making us viable and profitable. We have the raw space, the blueprints, bids from
contractors, and a new, professionally-designed brand with new website in the works. All this,
but unfortunately not enough capital to make it all happen! With our inexperience in
financing, it turns out that we didn’t raise quite enough to put the finishing touches on our
storefront. Which brings us to our reason for this letter: We need a modest amount of
If you like our products (and we think you do), and agree with us that we can create our
dream, a viable, high-quality bakery business, please consider this investment opportunity:
Our “Muffin Note” comes in the form of a “demand note”. This means that the money lent is
payable at any time you request, in one lump sum. Buying a note is easy to do: simply send
us a check to the address listed below, and before depositing it we will mail you a signed
note. To keep our bookkeeping manageable we offer notes in $1,000 increments. On
December 1 and June 1 of each year we will pay interest, currently 6% annually, on the
amount you have invested. The rate of interest we pay is tied directly to current money market
rates and will be adjusted every six months (Dec. 1 and June 1).
Along with each interest payment, you will receive a new note bearing the adjusted rate. It’s
as straightforward and uncomplicated as we can make it. If you’d like more information
about our notes or about our business, including credit references or financial statements, feel
free to call. We’d be glad to discuss all of this with you.
To summarize, we know our proposal is unusual, but here’s why you should consider joining
our group of investors:
1. We’ve been in business for six years. We know how to bake great things, and we already
have a lively wholesale trade in a very food-conscious, booming city (that is lacking in quality
2. Our credit history is excellent.
3. Your risk is minimal, since you can withdraw your total principal any time, with no notice.
4. We offer a favorable rate of interest, much better than any CD we know of.
5. Your money will go to work supporting a small-scale, woman-owned food business with
integrity and a bright future.
6. Best of all, you’ll know you’ll be able to continue enjoying our delicious products!
In appreciation for your consideration,
Jane Crawford Barb Reale
2427 S.18th St ext. Pittsburgh, PA 15210 (412)381-4000 www.threefiftypgh.com