Whenever someone comes up with a great business idea, people wonder why they didn’t think of that. The truth of the matter is that it takes a visionary to incubate that idea and to transform it into a workable solution.
According to Crunchbase, that is exactly what Billy McFarland has done with his new company called Magnisess. McFarland is not a rookie either when it comes to dreaming up new and fruitful business ventures. At age 13 he started a company that found customers for a local business.
As a freshman computer engineer student at Bucknell, he began a company called Spling which is still a going concern with McFarland at the helm as CEO. Spling takes the URL of a company and transforms it into a graphic design which brands the company and makes for an attractive logo. Customers today include Universal and Discovery.
In 2013 while still in his 20s, McFarland put together Magnises which is a means for millennials to come together by using Magnises to receive discounted goods and services from local New York City restaurants, clubs, bars, events, and venues.
The target demographic is entrepreneurs, professionals, management of the fashion and IT industry, and other similar jobs between the ages of 21 and 35. These folks like to congregate to share ideas, mingle and make business contacts.
For the reasonable annual fee of $250, members are able to access businesses who have agreed to offer discounts and perks. It all happens through the “Black Card” which has become a prestige item among the millennials. The information on the member’s debit or credit card is transferred onto the Black Card, which is then used to pay for services, only at an attractive discount.
At the end of 2015, Magnises had over 10,000 members and growing. Even though there is a loose screening with the online application form, there seems to be no problem in obtaining new members. Businesses are anxious to come aboard as it means increased business for them.
With a recent venture capitalist’s investment of $3 million, Billy McFarland is thinking of expansion. Other cities which are ideal for Magnises include Boston, Chicago, Los Angeles, and London. Billy McFarland sees a bright future, and why not. Millennials are everywhere.