There may not be a success story anywhere that can surpass that of Billy McFarland, particularly when dealing with success at such a young age. At age 13, McFarland started a company that found customers for businesses in his hometown.
While a freshman computer student at Bucknell University in Pennsylvania, he started a company that is still operational called Spling. The company changes the URL of businesses into a graphic which is used to help promote the content of marketing material and enhance the brand of the business. Companies such as Universal, Warner, Hearst, and Discovery are clients, and McFarland is the CEO.
More recently at the age of 23, in 2013, McFarland started Magnesis, which is a venue for millennials to be able to get together and share experiences. Many times a person in a new job, and in a new city feels lost, and Magnises is a way for them to connect and be a part of things.
For a modest annual membership fee of only $250, members get very good discounts from many of their favorite restaurants, bars, clubs, meeting places, hangouts, travel venues, events, concerts and many other activities that the frequent. The “Black Card” is issued which copies the needed data from the member’s credit or debit card. The Black Card is then used for payment at the various member businesses and the discount is automatically applied to the bill.
Millennials enjoy getting together to exchange experiences, brag about their exploits and to make business contacts. This has been a natural evolution and to say that is has been successful would be an understatement. At the end of 2015, Magnises had over 10,000 active members in the New York City and Washington D.C. areas, the two vicinities where members are currently located.
According to INC and CNBC, Millennials defined for Billy McFarland’s purposed are young entrepreneurs, professionals, and managers of the IT and garment industries, as well as anyone else who are moving up. Ages range from 21 to 35.
Plans for expansion are in the works, particularly since a recent cash infusion of $3 million has entered the equation. The time is right, and the business model is extremely transferable. It would be a shame to pass up this opportunity.