Make:
Where unleashed potential, creativity, innovation, technology and hands-on-learning intersect
Last Funded May 2025
$312,468
raised from 745 investors
Investment Terms
- Early Bird Make Community LLC Subscription Agreement 2024
- Custodial and Voting Agreement
- Early Bird Custodial and Voting Agreement
- Make Community LLC Subscription Agreement 2024
Financials
We have financial statements ending December 31, 2023. Our cash in hand is $291,318, as of August 2024. Over the three months prior, revenues averaged $250,625/month, cost of goods sold has averaged $95,152/month, and operational expenses have averaged $198,404/month.
At a Glance
Jan 1 – Dec 31, 2023
$4,247,008
Revenue
+21%
-$825,606
Net Loss
$1,191,926
Short-Term Debt
-2%
$500,000
Raised in 2023
$291,318
Cash on Hand
+21%
Net Margin:
-19%
Gross Margin:
40%
Return on Assets:
-40%
Earnings per Share:
-$0.04
Revenue per Employee:
$249,824
Cash to Assets:
11%
Revenue to Receivables:
4,128%
Debt Ratio:
83%
document 5.pdf
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Overview
Where unleashed potential, creativity, innovation, technology and hands-on-learning intersect.
Make Community LLC has been at the heart of the maker movement since early on, celebrating makers, and recognizing creativity, innovation and curiosity.
The Company has produced or licensed nearly 1500 events around the world with attendance exceeding 7.6 million guests, publishes a quarterly subscriber-focused magazine and more than 60 books, produces digital content including Makercamp for children and Makezine.com and manages ecommerce through Makershed.com.
Milestones
Make Community LLC was formed in the State of Delaware in June 2019. Maker Faire and Make: are registered brands owned by Make Community LLC. The business operates primarily around the brands Make: and Maker Faire.
Since then, we have:
To date, the Company has been financed with $500k of debt from the founder.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 24 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 12 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the Offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this Offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Make Community LLC cash in hand is $291,318, as of August 2024. Over the last five months, revenues have averaged $250,625/month, cost of goods sold has averaged $95,152/month, and operational expenses have averaged $198,404/month, for an average burn rate of $42,931 per month. Our intent is to be profitable in 18 months.
An additional $100,000 no-interest term loan was issued to the company in February 2024; this loan is due in 2030.
We expect our revenue from June 1, 2024 to December 31, 2024 to be $3,521,000 and COGS: June 1, 2024 to December 31, 2024 to be $1,821,000. Lastly, OPEX: June 1, 2024 to December 31, 2024 to be $1,843,220.
$900,000 will provide the working capital to run the 2024-owned and operated Maker Faire and the working capital to run a second-owned and operated Maker Faire in 2025. With two owned and operated events, the company is profitable and can continue to launch new Maker Faires in new markets.
The Company operates in several business verticals. The cash flow associated with these multiple verticals allows the company to operate with no additional cash flow infusion prior to the completion of the current fund-raising round.
All projections in the above narrative are forward-looking and not guaranteed.
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Overview
Where unleashed potential, creativity, innovation, technology and hands-on-learning intersect.
Make Community LLC has been at the heart of the maker movement since early on, celebrating makers, and recognizing creativity, innovation and curiosity.
The Company has produced or licensed nearly 1500 events around the world with attendance exceeding 7.6 million guests, publishes a quarterly subscriber-focused magazine and more than 60 books, produces digital content including Makercamp for children and Makezine.com and manages ecommerce through Makershed.com.
Milestones
Make Community LLC was formed in the State of Delaware in June 2019. Maker Faire and Make: are registered brands owned by Make Community LLC. The business operates primarily around the brands Make: and Maker Faire.
Since then, we have:
- Millions of makers are thriving throughout America in businesses, schools and garages
- Globally Maker Faire has become a trusted, successful brand; thousands of events have been hosted
- Life-long learning through making is a career demand for every person's future economic success
- Maker Faire celebrates creators' purpose- and passion-driven projects
- Collective experiences enhance our sense of connection and belonging
- Events that leverage the relationship between senses are individually validating
- Technology is more human than ever
- Revenues & Gross Margin. For the period ended December 31, 2023, the Company had revenues of $4,247,008 compared to the year ended December 31, 2022, when the Company had revenues of $3,497,084. Our gross margin was 40.2% in fiscal year 2023, compared to 59.19% in 2022.
- Assets. As of December 31, 2023, the Company had total assets of $2,047,170, including $221,856 in cash. As of December 31, 2022, the Company had $2,396,480 in total assets, including $425,603 in cash.
- Net Loss. The Company has had net losses of $825,606 and net losses of $296,776 for the fiscal years ended December 31, 2023 and December 31, 2022, respectively.
- Liabilities. The Company's liabilities totaled $1,691,926 for the fiscal year ended December 31, 2023 and $1,215,630 for the fiscal year ended December 31, 2022.
To date, the Company has been financed with $500k of debt from the founder.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 24 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 12 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the Offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this Offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Make Community LLC cash in hand is $291,318, as of August 2024. Over the last five months, revenues have averaged $250,625/month, cost of goods sold has averaged $95,152/month, and operational expenses have averaged $198,404/month, for an average burn rate of $42,931 per month. Our intent is to be profitable in 18 months.
An additional $100,000 no-interest term loan was issued to the company in February 2024; this loan is due in 2030.
We expect our revenue from June 1, 2024 to December 31, 2024 to be $3,521,000 and COGS: June 1, 2024 to December 31, 2024 to be $1,821,000. Lastly, OPEX: June 1, 2024 to December 31, 2024 to be $1,843,220.
$900,000 will provide the working capital to run the 2024-owned and operated Maker Faire and the working capital to run a second-owned and operated Maker Faire in 2025. With two owned and operated events, the company is profitable and can continue to launch new Maker Faires in new markets.
The Company operates in several business verticals. The cash flow associated with these multiple verticals allows the company to operate with no additional cash flow infusion prior to the completion of the current fund-raising round.
All projections in the above narrative are forward-looking and not guaranteed.
Risks
1
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the Company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
2
Our business is particularly sensitive to fluctuations in general economic conditions in the United States and other global markets in which we operate. A decline in global or regional economic conditions, or consumers’ fears that economic conditions will decline, whether due to inflation, elevated interest rates, or other economic, pandemic or geopolitical uncertainties could cause declining consumer spending, or other dynamic factors generally affecting economic conditions.
3
Holders of Class A-1 Units have no voting rights. As a result, practically all matters will be decided by the vote of the holders of Class B Units which currently consist of the founder of the Company. As a result, conflicts of interest may arise among the holders of Class B Units, on the one hand, and the holders of Class A-1 Units on the other hand. The Class B Unit holder has the ability to influence the Company’s business through the ownership of the sole voting units. If the holders of Class A-1 Units are dissatisfied with the performance of the Company, they have no ability to remove the manager. The manager has the sole discretion regarding the amounts and timing of distributions to members, including to decide to forego such distributions.
Other Disclosures
The Board of Directors
| Director | Occupation | Joined |
|---|---|---|
| Dale Dougherty | Publisher @ Make Community LLC | 2019 |
Officers
| Officer | Title | Joined |
|---|---|---|
| Dale Dougherty | President | 2019 |
| Todd Sotkiewicz | Vice President | 2019 |
Voting Power
| Holder | Securities Held | Power |
|---|---|---|
| Dale Dougherty | 21,264,545 Class B Units | 100.0% |
Past Fundraises
| Date | Security | Amount |
|---|---|---|
| Priced Round | $280,683 | |
| 7/2023 | Loan | $500,000 |
Outstanding Debts
| Issued | Lender | Outstanding | Maturity |
|---|---|---|---|
| 7/10/23 | Dale Dougherty |
$600,000
|
12/31/30 |
Related Party Transactions
The single member (Dale Dougherty) serves on the board of a separate entity that licenses certain books and event rights from the Company. This separate entity also perform marketing activities on behalf of the Company. It is paid 18% of sales for its book marketing activities. The Company generated revenue of $722,973 and $671,737 in 2022 and 2023, respectively, and incurred cost of revenue of $526,450 and $438,415 in 2022 and 2023, respectively, related to this related party.
The single member (Dale Dougherty) serves on the board of Maker Education Initiative (MEI). MEI has received charitable contributions from a separate company through the sale of the Company’s books.
Use of Funds
| $50,000 | 93.5% toward the development and expansion of existing and additional Maker Faires6.5% Wefunder fee |
|---|---|
| $1,235,000 | 93.5% toward the development and expansion of existing and additional Maker Faires. If the full amount is not raised, we would either scale back our expansion plans or pursue investment from other sources.6.5% Wefunder fee |
Capital Structure
| Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
|---|---|---|---|
| Class B Units | 21,264,545 | 21,264,545 | Yes |
Form C Filing on EDGAR
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.