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?

They should consider how ownership arrangement influences advantages, such as brand identity and the ability to take risks and innovate.

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

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

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