Timmy is considering opening a retail store. How should they think about their ownership arrangement,

whether independently owned, part of a chain, or a franchise outlet, to influence their store's advantages?

The ownership arrangement has no impact on a retailer's advantages.

They should consider how ownership arrangement influences advantages, such as brand identity and the

ability to take risks and innovate.

They could be a franchise outlet for maximum innovation and broad brand identity.

They could be independently owned for a broad brand identity or part of a chain for risk$-$taking.