Not too many people have the knack for conceptualizing and building successful businesses, but Billy McFarland does just that. He founded his first business at age 13, which discovered new customers for a local business in his town.
While a freshman at Bucknell University, McFarland started another business that is still a viable concern. Here, the URL of a client company is transformed into a graphic which can be used as a branding mechanism. Current clients include Discovery and Universal.
According to Forbes, Billy McFarland’s latest venture, Magnises, started in 2013 has had success beyond measure. With the goal of providing a proprietary platform for millennials where they can affect discounts and perks from many of their favorite hangouts, Magnises has been an overwhelming success.
The key to the entire concept is the Black Card, issued to the member initially when they pay their annual membership fee of $250. The Black Card is used to copy all of the data from the member’s debit or credit card, and then it is used to pay the bill at member businesses.
The discount is automatically applied at the same time, which makes membership and all perks and discounts seamless.
At the close of 2015, there were already more than 10,000 members and the group has been steadily growing from then in a big way. Not only are the discounts attractive, but special events such as a Hudson River Cruise and Booze party recently was a hit. Tesla held a special event at a local racetrack where members could try out some of the new Tesla prototypes.
Millennials are the targeted demographic, which includes young people from the ages of 21 to 35. Entrepreneurs, managers, professionals, garment district executives and IT managers are all included, and anyone else in that age range.
Millennials like to get together and socialize, share ideas and get business contacts and what better way to do it than to have fun and save money with Magnises.
According to Bloomberg, Magnises is a big hit in New York City, and a recent capital investment by a venture capitalist of $3 million has Billy McFarland looking to other cities. He claims that if it works in New York City, it will work in Boston and other key cities. With his track record and penchant for an opportunity, he is right.