OFFSITE CATERING

ROBLOX Scoop & Serve Lunch

Tuesday – Thursday, Weekly

Harpoon Therapeutics

3/9 - Breakfast Pick-up

BioMed Realty

3/21 –Boxed Lunch Dropoff

AbbVie

3/23 – Reception Catering Dropoff

F&L NOW AT 1540 followers! +10 followers since last month.

foundryandlux Our monthly farmers market is just around the corner, and we're excited to announce a new partner. @crumbleandwhisk is an incredible local baker specializing in delicious cheesecakes, breakfast pastries, and sweet treats. Stop by between 10:30 am-12:30 pm on March 15th to snap up these before they're gone.

#crumbleandwhisk #localbaker #buylocal #eatlocal #bayarea #cheesecake #foundryandlux #thecovessf

#goodeatsf #goodeatssf #bayareabaker #bayareacheesecake #jawdroppingdessert foundryandlux It’s National Pi Day, and we’re celebrating with a new amatriciana pizza. Topped with pancetta, onion, chili flakes parmesan and mozzarella. Simple as 3.14592… and so tasty you’ll wish you had a slice sooner.

#nationalpiday #nationalpiday2023 #piday #piday2023 #foundryandlux #thecovessf #goodeatssf #pizzapi e #pizzatoday #happyhour #happyhourpizza #happyhourbites #amatriciana #amatricianapizza #pancetta #pancettapizza foundryandlux Foundry & Lux is opening a new project soon and is hiring baristas and cashiers. If you’re interested in joining an amazing team with health, dental and vision benefits apply today www.bit.ly/FLBarista

#foundryandlux #barista #hiringbaristas #craftcoffee #coffeestar #werehiring #coffeeprogram #coffees hop #joinourteam #latte #cappuccino #coffeeart #teamplayer foundryandlux It’s the first day of spring and our culinary garden couldn’t be happier. We use elements from the garden in many of our dishes and the amazing @farmscape works directly with our chefs to plant and harvest seasonal vegetables, herbs and fruits.

#foundryandlux #foundryandluxgarden #culinarygarden #onsitegarden #farmscape #firstdayofspring #s pring2023

Sales: Sales for the four-week period totaled ~$262k with a weekly average of ~$52.4k. F&L has been producing catering for Roblox for three days a week, contributing an estimated $12k in weekly revenue. Weeks 1-3 were slow due to the continued impact of winter storms which caused many tenants to work from home or order delivery for their teams. The first few weeks also were slow without any larger event bookings. We are still seeing price sensitivity from event clients and many groups re-scheduled or canceled events due to the impact of the weather.

COGS: Cost of goods was 24.3% against the budgeted 22%. 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, and the increased costs of paper packaging.

Labor: Management monitored labor closely and made as many reductions as possible without impacting service levels. March labor came in at ~$187.2k against budgeted ~$210.3k. Additionally to retain culinary employees we needed to implement several cost-of-living wage increases long standing BOH employees who were being paid below market rate.

Other Expenses: Total other expenses were ~21.3%, which is slightly higher than budgeted due to the increased expense to purchase from Dumpling Time for the pop-up which totaled over $4.4K, as well as POS equipment maintenance costs of $2K for . Other expenses included services for the vendors, rentals, culinary garden, catering vehicle expenses, insurance, bank, and armored car services, computer and telephone expenses, and safety equipment.

Bottom Line: Total losses came in at -$44.8k against budgeted losses of ~$21.4k. While we did well in weeks 4 and 5 the average weekly sales in weeks 1-3 was only 48.6K which was under the budgeted sales largely due to the decrease in event revenue from the first 3 weeks of the period. Management is working on new marketing tactics to drive more revenue including adding new pop-up concepts Bini’s and BayLeaf, new farmer’s market partners, and more approachable event pricing to entice more groups to book last minute events with us and capture more revenue.

ASSUMPTIONS FOR FOUNDRY & LUX:

APRIL: Four-week period and business is expected to be a higher revenue generating month with the Cove Earth Week event. Budget slightly reduced from 2022 – revenue will not be as high as anticipated. An increased number of event booking in Week 1 and week 3. Week 4 has been closed off and reserved for HP board of directors which will impact sales that week with the loss of event spaces and there will be added expenses for the specialty wine requests during the events. Top line revenue will reflect sales, however, will not improve the bottom line, profit margin will be a wash for the internal events and will be executed at cost.

MAY: Four-week period and business is expected to be close to targe with budget. Wednesday, May 17, 100 person Lifescience Conference for HPP conducted at cost. 100 person buyout on the weekend in W4. Week 4 will be a 5 day operating week with closure on Monday, Memorial day, 5/29.

JUNE: Five – week period business is expected to be slower due to the tenant population dip that occurs during the summer months, but we are anticipating higher event revenue in W3 with a weekend buyout.