Society marvels at individuals who have great success, but they fail to realize that these individuals are action-takers, a quality that is rare. Billy McFarland is such an action oriented person. He began his first business at the young age of 13 when he formed a business that found customers for a local business.
When he was a freshman computer engineering student at Bucknell University, he founded a company called Spling, which takes URLs of businesses and transforms them into a graphic. This helps to enhance the content for the business’s online presence and helps to brand the company and its product. According to CNBC, Billy McFarland still serves as the CEO of this ongoing business which sports clients such as Universal and Discovery.
At the age of 23, in 2013, McFarland started a New York City-based operation called Magnises. The idea was to form a basis for millennials to get together at their favorite hangouts, restaurants, bars, clubs, concerts, meeting places and special events at a substantial discount.
The annual dues are $250 which entitles each member to “The Black Card.” This card copies the member’s data from his or her debit or credit card and is used to pay the bill at member businesses while simultaneously applying the discount.
The concept has worked so well that at the end of 2015 there were over 10,000 members and still growing. Millennials love to group together and talk about themselves, their accomplishments, and get business contacts. Why not get the discounts and enjoy the ride?
It is not unusual to find a complementary bottle of wine at a restaurant, or preferred seating at an event or concert.
Magnises has been a very popular addition to Manhatten millennial activities, and other metro areas who have heard of the concept are anxious to have the same attraction. Billy McFarland is actively considering expansion and cities in his headlights include Atlanta, Boston, Chicago, Los Angeles and London.
A recent addition of cash to the tune of $3 million hasn’t hurt the cause either. The business model is working exceptionally well, and McFarland feels that the time is right to exploit the concept. Opportunities come and go, and McFarland doesn’t want this one to slip away.