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Performforlife

Perform for Life was on site at The Cove in South San Francisco today for their monthly Farmers Market! It was so nice to engage with this lovely community and share more about P4L’s fitness classes, a complimentary amenity offered by the Cove exclusive to its tenants! Thank you @thecovessf and @foundryandlux for hosting, we hope to be back soon � • #fitnessclasses #corporatewellness #pilates #ujam #zumba #perform forlife #sfgym #sffitness #sfpersonaltraining #cscs #whynotnow #stre ngthtraining #strengthandconditioning #fitnessgoals #fitnessjourney #fitnesshome #goalsetting #wellnessfair #community

#plantbased #vegan #instantmeal #instantramen #in stantnoodles #tasteofinstantjoy @jennibackholm

Foundryandlux

A salad that looks and tastes ‘yam-tastic’! Sweet Potato Kale Salad - roasted sweet potato, baby kale, quinoa, cucumber, feta, and a tahini vinaigrette. And add any of our salad protein options!

Available for lunch from 11am to 2pm!

#lunch #salad #lightlunch #saladlife #yamtastic #sweetpotato #babykale #kalesa lad #tahinidressing #sfgoodeats #ssfgoodeats #goodeatssf #thecovessf #Foundrya ndLux #LoveBonAppetit

Foundryandlux

Looking for a tasty lunch treat? We have a new daily special to meet that need. A chicken teriyaki bowl with rice, romaine lettuce, pickled daikon, carrots, cucumber, sesame seeds and green onion. It’s savory, and little sweet and here for just today. Don’t miss this!

#foundryandlux #goodeats #bonappetit #thecovessf #teriyaki #ch ickenteriyaki #dailyspecial #tastylunch www.foundryandlux.com

Sales: Sales for the four-week period totaled ~$173.4k with a weekly average of ~$43.3k. F&L has been producing catering for ROBLOX two days each week, contributing an estimated $6k in weekly revenue. ROBLOX resumed services starting 1/10. Weeks 1 & 2 were slow due to the extreme weather, which caused tenants and nearby businesses to work remotely. Several more significant events were canceled or postponed their events to later dates, which reduced overall revenue for the period. We were able to make up some of the losses from week 1 & week 2 with more significant catering than anticipated. Roblox week generated ~$42k of revenue in week 4!

COGS: Cost of goods was 27.7% against the budgeted 24%. The initial budget assumption was that F&L would operate under an updated contract which allowed a purchasing credit of 3% back to the cost of goods line. COGs continue to be a moving target due to distribution and vendor challenges. Additionally, the low sales from week 1 and week 2 greatly affected cost of goods with low revenue while still needing to remain fully open for tenants.

Labor: Management monitored labor closely and made as many reductions as possible without impacting service levels. January labor is at 76% against revenue.

Other Expenses: Total other expenses were ~27.3%, which is higher than budgeted due to the booking of outside services for Roblox as requested by the client for special add ones. Additionally, the catering van and truck had the catalytic converters stolen on-site. The additional repair expense was needed to accommodate offsite catering and events. Other expenses included services for the vendors, rentals, culinary garden, computer expenses, catering vehicle expenses, insurance, bank, and armored car services, computer and POS costs, and safety equipment.

Bottom Line: Total losses came in at -$53.3k against budgeted losses of ~$27.5k. Closing for MLK holiday helped reduce total operational costs however, weeks 1 and 2 revenue totaled only ~$43k. Weeks 3 and week 4 equaled ~$130.2k.

ASSUMPTIONS FOR FOUNDRY & LUX:

FEBRUARY: Four–week period and business is expected to remain slow but should pick up in comparison to January, with events ramping up in week 2 and week 4. Management is planning to closed on Presidents Day to reduce operational costs. Roblox anticipated catering 2 times a week and will be adding more meals in week 4.

MARCH: Five–week period and business is expected to be greater than February with larger events planed for Week 1, 4 & 5. Roblox anticipated catering 2 times a week but increases their catering numbers and meal services.

APRIL: Four-week period and business is expected to be a high revenue generating month with the week-long Cove Earth Week event, and larger number of events booking in Week 1 and Week 4.