What is the best business option for Bernie given his limited funds?

A booth rental establishment is the most suitable business option for Bernie considering his limited funds. This type of arrangement allows individual stylists or beauty professionals to rent space within a larger salon without incurring the liabilities and overhead costs associated with owning an entire salon.

In contrast, a full-service salon requires a significant investment in both equipment and staff, which would likely exceed Bernie’s financial capacity. A franchised business often demands not only a sizable initial investment but also ongoing fees for brand use and training, making it a less feasible option for someone with limited funds. A high-end spa typically involves high operational costs, including luxurious amenities and services that necessitate a larger capital investment.

By choosing a booth rental option, Bernie can start his business with lower financial risk, allowing him to generate income while minimizing expenditures until he may choose to expand or invest further in his career.