Aman is a sole proprietor. Over the past decade, his business has grown from running a small home-based bakery selling cakes and pastries to operating three bakery outlets across the city. Although he personally handles purchasing ingredients, managing staff, and customer relations in all branches, for better management he is considering converting his sole proprietorship into another form of business organisation. He also wishes to expand his bakery chain to other cities in India. However, he is worried that if the business suffers losses, his personal savings and house might be used to repay business debts. He also feels that managing an expanding business alone is becoming difficult due to his declining health.

Identify and explain the features of sole proprietor business highlighted in the above case.