Legalization of Marijuana Creates New Economy in Denver

Posted on March 24, 2015 by admin

Since the legalization of recreational marijuana in Denver in 2014, the city has created a profitable industry where individuals and businesses can thrive. Now the city officially has more marijuana dispensaries than Starbucks, making it the place to be for new marijuana entrepreneurs. Although the city has been in the center of heated debates and punchlines, marijuana’s effects on the economy are no laughing matter.

Since its legalization, marijuana has created a large job market and increased tax revenue, to the tune of $44 million. Now smart entrepreneurs are rushing to the state to grow and sell their own special strands of marijuana. Companies are popping up left and right, dealing with all aspects of the marijuana trade. Many are creating marijuana-infused products, like sodas, lotions, cookies, and other edibles.

Once marijuana was legalized in Denver, many residents were concerned that it would lead to an increase in drug related accidents, drug related crimes, and drug use in children. Thus far, these fears have not come to pass. According to a Denver Post poll, crime rates have remained stable in the city, while its car fatalities and murder rate decreased in 2014. Also there has yet to be any definitive proof that legalization has increased the use of marijuana for people under 21 years of age.

Jack Strauss of the University of Denver, recently conducted a study on the economic impact of two of Denver’s major marijuana dispensaries, Colorado Harvest Company and Evergreen Apothecary. Strauss found that the combined economic impact of both stores was seven times the impact of the average restaurant or retail store in the metro area. Tax revenue from both totaled over $1.07 million for Colorado and over $390,000 for the city.

Despite the embracing of marijuana businesses in Colorado, many marijuana merchants still find it difficult to secure competent recreational or medical marijuana payment processing from traditional lenders. However, there are some experienced online payment processors that specialize in this area.

Learn more about expanding your customer’s payment options with credit and debit cards. Contact us today!

The Numbers Are In: Recreational Marijuana Sales and Tax Data From Washington State

Posted on December 22, 2014 by admin

The state of Washington has seen beneficial growth in taxes from the legalization of marijuana. Cannabis sales have been profitable each consecutive month and are only growing. Since sales began on July 8, 2014, retail stores have made $31.6mm combined in revenue from sales with $7.9mm in taxes for the state. On this growth trend, it is forecasted that about $200mm in sales will be reached over the next 12 months.

In Washington State, November retail marijuana sales rose 24% from the previous month with a total of $16mm. Revenue and tax collections from recreational marijuana have risen each month. These data portray the immediate benefits the state receives as the legalization of marijuana is set in play. This type of data is the solid argument it needs to legalize and regulate medical marijuana across all the other states. The sales numbers show the potential to boost state and cities out of the economic slump from the past several years.

Washington State, along with Colorado and Michigan, has presented solid sales numbers to help convince lawmakers to rewrite cannabis laws that could create millions of dollars by creating a system to regulate dispensaries and collect industry specific taxes.

With the taxes collected from cannabis sales, Washington State can use that capital to focus their time and money on other matters of interest. On a steady pace to see sales numbers rise, Washington state’s economy has got the boost it needed to jump start overall growth. Many retail stores need medicinal marijuana merchant account services to tailor to their needs and specific industry. Marijuana Merchant Account has experience working in this industry and has the most knowledgeable staff and services to aid in the marijuana business.

For medicinal marijuana merchant account services, contact us today!

Recreational Marijuana Sells Grow Massively

Posted on October 8, 2014 by admin

In Colorado, recreational marijuana sells have skyrocketed. In fact, consumers spent more on recreational marijuana than medicinal marijuana. This lends credibility to its legalization. With its lucrative outcome, it is possible that other states may soon hop on the legalized recreational marijuana bandwagon.

Colorado legalized small amounts of recreational marijuana earlier in 2014, and soon sales were booming. These sales not only helped those wanting the product, but it also helped create jobs in the community, and tax dollars. Of course, legalized marijuana is taxed, and those tax dollars help with everything from infrastructure to roads. While only time will tell if this is a “fad” or I the sales will stay high, for the time being the extra jobs and tax dollars are something that many other states are looking at seriously.

Even if your state is not embracing legalized recreational marijuana, they may be one of the states that offers up legalized medicinal marijuana. If so, you should seriously consider offering it in your business. It is still a lucrative product, and a much wanted product. However, you need to be sure that you have a medicinal marijuana payment processor. Mainstream payment processors tend to drop merchants who offer medicinal marijuana, because they are subject to higher percentages of fraudulent activity.

We know the benefits that medicinal marijuana can offer to customers, as well as the lucrative benefits it can offer to merchants. We pride ourselves at providing our merchants industry-standard processing rates, as well as top of the line security, software, and terminals. We keep your information, as well as your customers’ information secure, which is a major concern these days. Whether you are about to add legalized medicinal marijuana to your inventory, or if you are just curious,

We can set up your medical marijuana payment processing in as little as 48 hours!

Polls Show that Recreational Marijuana Legalization is Popular

Posted on October 1, 2014 by admin

Polls in Colorado still show that the legalization of recreational marijuana is still popular. The polls show around the same numbers as polls before the legalization occurred earlier in 2014. While polls are often tricky, due to demographics, the fact that the results were pretty much the same is fantastic for the industry. While the sales are booming in Colorado, this could help other states enact their own marijuana legalization.

Until then, there is always the need for more cannabis dispensaries in the states where it is legalized. Business is booming, and it is the perfect time to enter into the business. It seems like a tricky business to enter into, yet you do not need to be a “pothead” to do it. Legitimate business men and women are getting into the game – so why aren’t you?

One of the first things you need to do is to locate a cannabis dispensary merchant account. This can be hard, as very few offer this service. One of the best is simply titled Marijuana Merchant Account, www.marijuana-merchant-account.com. Simple to remember, right? Well, we are at the top of the game when it comes to providing cannabis dispensary credit card terminals. Credit card terminals are a must if you plan to accept credit and debit cards as payment. While you can always just accept only cash, it may deter clientele, who do not want to make a special trip to the ATM before visiting your establishment. So, you need to make sure that your terminals are secure, safe, and up to date. We offer that. We offer the best terminals, security, and software to protect your customers’ information. It has also been mentioned on the news that the Feds are “watching” these businesses. We understand that, and we comply with all state and Federal rules and regulations, as would apply to legalized cannabis dispensaries.

For your cannabis dispensary credit card terminal needs, contact us today.

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Tag Archives: Recreational Marijuana

Legalization of Marijuana Creates New Economy in Denver

The Numbers Are In: Recreational Marijuana Sales and Tax Data From Washington State

Recreational Marijuana Sells Grow Massively

Polls Show that Recreational Marijuana Legalization is Popular

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