In order to qualify for a black American Express card, you must show you have the ability to charge more than $250,000 a year and be able to spend $7,500 for an initiation fee and $2,500 annually. In order to get a black Magnises card, you must be a Millennial that has at least $250 to spend for a membership.
Billy McFarland, the Short Hills native, and the son of two real estate developers decided his generation needed a social club that offered special perks.
In other words, if you have a black Magnises card in your wallet, you’re cool enough to hang out in Billy’s West Village townhouse and enjoy special perks like exclusive art shows, fancy dinners, and tables at the trendiest nightclubs in New York City.
At 24 years-old, Billy McFarland is the father of Magnises. Billy started Magnises in 2014 after raising $3 million in venture capital. The Bucknell University dropout, and founder of the popular online ad platform, Spling, is a Millennial marketing whiz.
The Magnises concept is up and running in New York City, Washington, D.C., San Francisco, and Chicago. Billy plans to spread the concept to London, Atlanta, LA, and Boston soon. Magnises already has 12,000 card carrying members that enjoy sports events, fine dining, and nights in trendy clubs. Members can purchase a ClubPass and a HotelPass that gives them deals that aren’t offered to non-members.
Starting a social club for Millennials was a risky endeavor, but McFarland knows the market. After all, using a Latin-sounding word like Magnises, which means absolutely nothing, is a stroke of Millennial genius.
There’s not a Baby Boomer alive that could use a word that means nothing and turn it into a business. Well, there may be a few Baby Boomers that could do that, but at this point, most of them are retired and wondering where the time went.
Billy McFardland developed a winning concept by listening to what Millennials want. Billy McFalrand’s West Village townhouse is always open. The Millennial members that work in the fashion, sports, tech, and finance world are taking advantage of the networking, food, and good times that McFarland offers them without regrets.