Billy McFarland started his first real company at age 13 which was very successful in linking clients to local service which was beneficial to both. Billy McFarland is the current CEO of Magnises, formed in 2013 and is a success story of Horatio Algier proportions.
Located in New York City and Washington DC, Magnises offers the Black Card which allows millennials access to tremendous discounts to all of their trendy and important restaurants, clubs, bars, events, and venues. The way that the Black Card works is to transfer data from a person’s regular charge cards to the Black Card. For a $250 annual fee, the Black Card can then be used for all of the discounted perks and services offered through Magnises.
Millennials love to be in on the latest thing, and this is it. The demographic of young professionals and entrepreneurs from the ages of 21 to 35 is the targeted group. The concept gives millennials the ability to network in places where they are already going anyway, only at a very nice discount.
McFarland is very picky in regard to whom is chosen as business associates. They must be solid and trendy, able to offer members a good deal on an ongoing basis. They must be an established organization who can be trusted over the long haul. It becomes a win-win relationship for both the business and the millennials with appropriate benefits accruing to both.
This is why restaurants such as Catch and La Esquina, clubs like Goldbar and Finale are some of many New York establishments who have become partners. Helicopter trips out to the Hamptons with Blade and hands-on driving experiences with Tesla at the track are popularly sponsored events for the millennials. The goal is to partner with businesses and events who really want to buy into the concept and get really engaged. This creates the environment that the millennials crave.
Ideas that are great in theory amount to nothing unless someone takes that idea and makes it a reality. This is exactly what McFarland and his people have done. At the end of 2015 Magnises had 10,000 members and was able to garner a venture capital investment of $3 million. This will allow expansion to other major cities, both here in the US and abroad.