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interested in becoming a consultant when she successfully planned her first three weddings. Micah received her certification from the National Association of Wedding Consultants and has been a wedding planner for three years. Micah enjoys all aspects of planning traditional and nontraditional weddings.6.1 Personnel Plan

FY 2001

FY 2002

FY 2003

Owner

$53,100

$76,200

$85,800

Other

$0

$0

$0

Total People 0

0

0

Initially, TLC Wedding Consultants' personnel will include only the two owners, both of whom will be working full time. As the personnel plan shows, we expect to hire an additional wedding consultant in the next year This person will work full time, but will not be included in the management decisions.

Personnel Plan

Total Payroll $53,100

$76,200

$85,800

7.0 Financial Plan

FY 2001

FY 2002

FY 2003

Plan Month

1

2

3

Current Interest Rate

10.00%

10.00%

10.00%

Long-term Interest Rate

10.00%

10.00%

10.00%

Tax Rate

25.42%

25.00%

25.42%

Other

0

0

0

The following subtopics represent the financial plan of TLC Wedding Consultants.

General Assumptions

Assumptions:

Average Percent Variable Cost

0%

Estimated Monthly Fixed Cost

$5,468

7.1 Break-even Analysis

The following table and chart summarize our break-even analysis.

Break-even Analysis

Monthly Revenue Break-even

$5,468

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