Pros
No matter what major, if you want a feel for running a business from marketing, sales, operations, accounting, profit/loss, profit margins, personnel manager, and customer relationship management and you're highly motivated, this is for you. If you just want something good on you're resume, well plenty of those apply, but only those who have the drive to continue no matter what, put in the hours, learn and are passionate about succeeding will make it.
Cons
20-30hours during school, sometimes 80-100hours during summer, but again if you're passionate you'll focus on optimizing you're business and delegating so that you can work some weeks 20 hours and still be a top intern though biggest con: few make it to the top, and it's not worth it if you're not in the top.