As far as Billy McFarland, action is the key to success. As evidenced by early success when he formed his first business at age 13, his actions are far ahead of most people.
According to Bloomberg, As a freshman in college at Bucknell University, Billy McFarland started a company called Spling which takes the URL of a business and transforms it into a graphic design which brands the company and makes for an attractive logo. He is still CEO of this company which enjoys clients such as Universal and Discovery.
While still in his early 20s in 2013, McFarland founded Magnises, which is a way for millennials to take advantage of significant discounts and perks at many of their favorite restaurants, clubs, bars, events, promotions and other venues. Millennials love to get together and share ideas, socialize, and make business contacts, and this gives them more reason to do so.
The key to it all is the “Black Card” which is used to copy the information from a member’s debit or credit card onto the Black Card’s magnetic strip. It is then used for payment at the designated member business where the discount is automatically applied. It is not unusual for a member to receive a complimentary bottle of wine at a restaurant, preferred seating at an event.
For an annual membership fee of $250, members are happy to join as the save lots of money doing what they normally do anyway, and giving them something else to have in common. the Black Card is now somewhat of a prestige item as Magnises is growing at an astonishing pace.
By the end of 2015, Magnises had over 10,000 members and counting. The target demographic of IT workers, fashion industry workers and management, professionals, and entrepreneurs between the ages of 21 and 35 works perfectly for Magnises. There are plenty of them, and the Black Card is their perfect entree to a great shared experience.
A recent venture capitalist’s investment of $3 million has given McFarland funds to expand. Other metro areas of Boston, Atlanta, Los Angeles, Chicago and London, are ripe fields of potential, and McFarland intends to take advantage of these possibilities. The business model works well, and it is time to spread the wealth.