Marijuana dispensaries are quickly becoming one of the fastest-growing businesses in the country. With a growing number of states allowing for the sale of recreational cannabis and most states legalizing medicinal marijuana in one form or another, marijuana dispensaries aren’t going away anytime soon. In fact, the industry is projected to create billions in revenue over the next decade. If there’s one thing every current and future marijuana dispensary needs to understand, it’s the importance of having a marijuana dispensary ATM on site.
While several states have legalized recreational marijuana, cannabis is still considered illegal on a federal level. Even though this doesn’t stop pot shops from conducting business, it creates certain complications. For starters, most of the major credit card companies won’t allow their customers to conduct transactions at marijuana dispensaries. Also, most major banks won’t take dispensaries as clients, preventing those businesses from making deposits.
As a result, most marijuana dispensaries are left doing most of their sales using cash. Of course, there’s nothing wrong with this. Using cash is still the fastest way for consumers to make purchases at any type of store. However, if you know that most of your customers are going to use cash to make purchases, whether they have a choice or not, it’s best to have an ATM inside the shop.
Odds are, most customers aren’t going to think ahead before visiting a marijuana dispensary. If they don’t have enough cash to make a purchase, they’ll be out of luck, and so will you, because you won’t get their business. However, if there’s an ATM conveniently located inside the shop, this won’t be a problem. In fact, customers will also be able to get more cash if they end up spending more than they expected.
Not only will an ATM likely lead to more business, but it’ll also mean accepting fewer checks from customers. Since dispensaries can’t always get a bank account, taking checks from customers who don’t have enough cash can be a hassle. This can easily be avoided if customers have easy access to an ATM. When you factor in earning extra income from transaction fees, it’s a win-win for any marijuana dispensary to have an ATM on hand.
Of course, there’s a lot more to know about ATMs than just knowing that you need one. For starters, it’s safe to assume that an ATM at a marijuana dispensary is going to get a lot of use, potentially thousands of transactions per month. This means being able to restock the machine on a regular basis so it never runs out of cash. It also means knowing who to call for any technical problems that could arise. Finally, marijuana dispensaries should make sure they have an ATM that’s easy to use, durable, and secure, so they can make their customers feel comfortable and safe when using it.
Whether you run a marijuana dispensary or any other type of business, National ATM Wholesale can take care of all your ATM needs. We can sell you an ATM or offer both partial and full ATM placement. If you run a marijuana dispensary, you’re doing yourself a disservice if you don’t have an ATM on site. Fortunately, National ATM Wholesale can tell you everything you need to know about buying or placing an ATM so that your legalized marijuana business can thrive. Contact us today to learn more about marijuana dispensary ATMs.