Thursday, March 24, 2011

Turns Out Selling Medicinal Marijuana Is Profitable, But a Pain

Posted By on Thu, Mar 24, 2011 at 9:59 AM

I like infographics, mostly because it's easier for me to remember information when it's presented with pretty pictures, so this illustration discussing the medicinal marijuana industry was a welcome one. One fact from the report the infographic comes from:

Don’t Hold Out for Free Checking. That first buyer may come easily, but don’t assume the same goes for processing his credit card. National banks like Wells Fargo have turned away marijuana businesses, which are still considered illegal under federal law. That makes simple business processes like a checking account, corporate credit cards or a merchant services account costly, time-consuming challenges. Lucky for you, there are smaller, local banks eager to win business in a growing industry.


[Fast Company]

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