Makers Social Update | Shark Tank Season 17
Life isn’t supposed to be all that serious and boring, and that’s what Megan is doing with her business, Makers Social. Makers social is a DIY project bar where people can build crafts like leather goods and woodworking projects, and socialize over a glass of cocktail. Will Megan secure a deal with any of the sharks? Let’s find out in our Makers Social update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Makers Social after
Megan entered
In terms of a Makers Social update, Megan has received a lot of inquires after airing and the deal with Kevin is in due diligence.
| Shark | Result |
| Kevin O’Leary | Accepted offer of $150,000 for 20% equity |
| Kendra Scott | No offer |
| Lori Greiner | No offer |
| Robert Herjavec | No offer |
| Rashaun Williams | No offer |
Shark Tank Makers Social Pitch
- Entrepreneur: Megan Pando
- Business: A DIY crafting studio
- Ask: $150,000 for 10% equity
- Result: $150,000 for 20% equity
- Shark: Kevin O’Leary
Megan came to
Based in Columbus, Ohio, and operating out of a 1,800 square foot space with 50 seats, Megan plans to use the investment money to open a second location.
The overall feel of the bar is similar to that of a restaurant, but the only difference is the presence of workbenches and tools. Customers get to choose from a menu of 30+ hands-on projects.
Once a person chooses the type of project they would like to work on, Megan and her team then provide the materials, tools, and step-by-step instructions with clear visuals.
The whole idea is built around social connection, whether it’s a date, group hangout, birthdays, or a private event.
Kevin O’Leary noted that Megan’s idea is similar to Wine and Design, which featured in Season 8. Megan revealed that her first business, a paint and sip studio, was sold two years ago and hopes to break new ground with Makers Social.
Now time for the numbers. She opened the business with a $300,000 capital from her personal savings after selling her previous business. In 2023, she made around $504,000. That figure grew to $546,000 the following year, with an 8% increase.
She told the sharks that after making expenses and paying herself, she still netted home a profit of $41,000 with labor cost sitting at 24% and profit margin at 95%.
Average ticket was $62, EBITDA at 30%, while CAC was just $0.82. She also added that she is currently operating at more than 10% ahead of the previous year.
Kendra Scott wants to know her long-term plan, but Megan is fixed on her current project, which is opening a second location and possibly considering franchising.
But the sharks were visibly concerned about the idea of franchising, saying that no one would operate the business exactly the way Megan would do it.
After the explanation, most of the sharks dropped out, citing scalability concerns, except for Mr. Wonderful.
He offered her $150,000 for 20% equity, plus he would get $0.20 from every dollar distributed till he makes back his money.
At first, Megan countered, but in the end, she accepted the offer after having to rethink her options and realizing that no other shark wanted in on her business.
To find out what happened next for her company, keep reading our Makers Social update.
Shark Tank Makers Social Update
According to our Makers Social update, the deal with Kevin O’Leary is currently in due diligence.
Shortly after appearing on
Meghan also received lots of congratulatory messages from friends and family for getting on
If you live in Columbus, Ohio, or around its neighborhood, you can pop into Meghan’s store for an evening of cocktails and crafting with friends.
Once the dust settles, we will circle back for another Makers Social update.
For more updates from
Before you go, be sure to check out our list of all the Shark Tank Season 17 episodes.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.