Magnises, founded in 2014, is a private club aimed towards privileged millennials offering luxurious benefits in major cities along the East Coast. This exclusive club provides discounts to restaurants, bars, and clubs with just a flash of the card. Other benefits include vacations to places such as Tahiti or New Zealand and exclusive, private concerts.
The man behind this club is Billy McFarland. Only twenty-three years old when he created it, he wanted to connect millennials with up-and-coming businesses, both online and in physical form. After about a year, the club has approximately 6,000 members who pay $250 a year just to have the card. McFarland began his entrepreneurial career at only thirteen when he founded an online company to match clients to designers. He is not only the CEO of Magnises, but he is also the founder and CEO of Spling (2010). He still is CEO of both companies and is now only 25 years old.
Millennials are the targeted age group that this company is built for, most of whom work in fashion, technological, and finance industries. Prospective members must submit an application for approval to join the club and use the benefits offered. One way to boost up the application review process is if a person works for a company Magnises would like to sign a partnership with.
As of 2016, the club has created new benefits for its members such as WorkPass, which provides members access to work in the offices in Alley, the base of Magnises’ operations, at a discounted price of $99 a month from the normal $500 per month for non-members. Other benefits include ClubPass, which allows members access to the top nightclubs for only $65 a month, and HotelPass, which allows members can stay at The Dream Hotel in New York for a discount. Normally $245 a night, members can stay for only $79 a night, giving approximately a 32% discount.
The club allows for a mixture of partying and working to go hand-in-hand without any frowns upon them. Companies, such as Tesla, have signed contracts to Magnises. Restaurants La Equina and Catch have also signed contracts along with clubs Finale and Goldbar. Another discount includes helicopter flights to the Hamptons. Magnises allows working millennials to have access to exclusive clubs and a luxurious lifestyle. It’s just the right combination of working and relaxing. It’s almost as if a member is paid to take advantage of the benefits Magnises offers.