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A franchise is a system in which entrepreneurs purchase the rights to open and run a business from a larger company. Franchising within the United States is widespread and is a serious economic powerhouse. One out of twelve retail businesses within the United States are franchised and eight million people are employed in a franchised business. A sole proprietorship, also identified Business news as a sole dealer, is owned by one particular person and operates for their profit. The proprietor operates the business alone and should hire workers. A sole proprietor has limitless legal responsibility for all obligations incurred by the business, whether from operating costs or judgments against the business.