Category Archives: Millennials

Billy McFarland Takes Opportunity By The Hand With His New Business

Most people don’t understand that opportunity must be seized, not pondered upon. That is why Billy McFarland is successful, and his newest business venture is proof of that. In 2013 he put together a New York City company called Magnises, which is a venue built especially for millennials. Membership allows remarkable discounts and perks at many

Millennials, in this case, are young professionals, entrepreneurs, manager types in the IT and garment industries, and anyone else who is going somewhere between the ages of 21 and 35. Membership is somewhat selective, as there is an online application that must be filled out and approved by management.

To be a member of Magnises, an annual $250 membership fee is required, and when approved, the member is issued “The Black Card.” The Black Card copies all of the necessary information off of the member’s credit or debit card onto the magnetic strip of the Black Card. It is used to pay the bill at member businesses and automatically apply any discount that applies.

Millennials typically love to congregate together and swap stories, brag about themselves, and make business contacts. By the end of 2015, there were already over 10,000 members of Magnises, with many of the local businesses taking part. Billy McFarland screens potential businesses too and requires that they understand the higher levels of service that is expected and that they sign on for the long haul.

Businesses generally don’t have a problem with that because many of the millennials are already regular customers, and they have already seen more business growth because of Magnises. Being on the list is great advertising and public relations and has come to be a highly desired position in the Manhattan area.

Expansion is on the plate as McFarland eyes other metro areas such as Chicago, Boston, Los Angeles, Atlanta, and London. A recent $3 million investment by a venture capitalist hasn’t hurt, as Billy McFarland feels his business model is transferable to the other markets. Millennials are millennials, no matter where they are found, and Magnises is a concept made for them and their habits. The future looks excellent, indeed.