Magnises is the new trend among millennials and is spreading like wildfire in major east coast markets. The concept is simple and easy to use, as up-and-coming young professionals and business owners use it to gain access to special deals and privileges.
Founded by Billy McFarland, the CEO, the company offers the Black Card, where for an annual fee, the user has access to all kinds of posh restaurants, clubs, bars and events for great discounts. There are no limits to its use and no restrictions, as an individual’s information from regular cards is transferred onto the Black Card, which is then used for the discounts.
McFarland, who started his first business as a 13-year-old attended Bucknell University, where as a freshman he started a company called Spling, which changed URLs into graphical mosaics to be used on virtual bulletin boards. He still heads that company as its CEO and clients include Discovery and Universal.
In 2013 Magnises was formed, and under McFarland’s guidance has amassed over 10,000 members who enthusiastically use and spread the word. Not only is the card a good deal, but the concept has almost become a cult movement where millennials can become a part of something new and trendy.
McFarland is the epitome of youth and success, as evidenced by the results. The company has already garnered over $3 million in venture capital, and expansion plans are in the works. Currently located in New York City and Washington DC, expansion to Chicago, Los Angeles, Atlanta, Boston, and London.
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Proving that the old Napolean Hill concept of finding the need and filling it is actually true, Magnises has caught on in a big way. The Black Card is a very appealing concept to the millennial crowd as it is community-based and very technologically savvy. Businesses in the food, entertainment, and travel industries are catching on to the fact that millennials have a good bit of money to spend, and that this is a great way to cash in on their whims and desires.
Some of the events are very promotional in nature, such as a recent arrangement by Tesla who sponsored a trip to a New Jersey racetrack to showboat some of their cars in action. Another company sponsored a cruise in the New York Harbor, booze included, along with snacks and a good time.
McFarland says that these types of events are crucial along with the more formal liaisons which include most of the trendy restaurants and clubs in a community. McFarland says that he and his staff are very selective about the particular brands with whom they decide to align themselves. The objective of Magnises is to create a network of brands that can be trusted to always deliver a quality result for members.
The formula seems to function quite well as Magnises is now being referred to as a branded name which is a “must have” in the minds and actions of the millennials on Instagram. A mobile app is available which instantly finds and identifies the good deals which are available. The model works well, and McFarland is not about to change a thing. And why should he change anything? From this point, the future looks bright and more success will surely follow.
Learn more about Magnises: https://www.crunchbase.com/organization/magnises#/entity