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REFR Business Plan first 11 months of 2018 (Data for December was not yet available). That number is expected to grow over time, as the illicit market shrinks with consumers migrating to fully legal retailers and wholesale prices trending downward. By the end of 2020, estimated retail sales for both medical and recreational marijuana could top $5 billion. The market is still very much developing, as legacy operators continue to transition into the newly regulated system, while out-of-state companies simultaneously try to stake their claim. The immediate obstacle is the dual licensing requirement, which leaves the permitting of retail outlets to California's cities and counties. The regulatory situation will likely loosen up as time goes on, but it's still an immediate hurdle that isn't easily overcome. To get around that obstacle, many companies are considering delivery as the immediate costs of entry are much lower. California is one of the few states that have fully embraced delivery as an alternative to requiring sales be made at physical storefronts. It is a booming business in the Golden State and is poised to become an even more critical industry component in 2019.The Bureau of Cannabis Control (BCC) — the state agency that licenses and regulates all cannabis retailers — issued a policy in mid-2018 that allows for marijuana to be delivered anywhere in the state, regardless of local bans on MJ companies. That means the question for new market entrants will be where to headquarter a delivery business and how to gather enough capital and develop the business practices needed to cost effectively deliver to as wide a region as possible. 3.2. INFORMATION ABOUT YOUR TARGET MARKET: Our target market includes Medical and Adult Use Cannabis consumers from San Joaquin County and the surrounding communities. Bans on storefronts in most neighboring cities have left hundreds of thousands of residents without access to Legal Cannabis. We hope to help fill the void created by these bans by providing convenient and affordable access to cannabis products via our in-home delivery service and online ordering platform. 3.2.1. Distinguishing Characteristics – Much like the other counties in the Valley, San Joaquin County is heavily agricultural. However, the San Joaquin County economy is a bit more diverse, largely as a result of its proximity to Sacramento and the Bay Area. Compared to the rest of the Valley, San Joaquin County has a lower concentration of farm and government jobs, and a higher concentration of transportation and warehousing jobs, with several OEM manufacturers including Tesla Motors. The county is located in Northern California's Central Valley just east of the very highly populated San Francisco Bay Area and is separated from the Bay Area by the Altamont Pass. One of the smaller counties in area in California, it has a 4