Those franchises that are under 500k are pretty risky unless well managed. Those Siomai/Milk Tea places can only last so long and not many reach ROI fast enough.

Expensive franchises like Mcdonalds and Jollibee which are PHP20M and above are more resilient but the approval process is difficult since you usually need the location before applying and the process takes time. Then there are all sorts of market studies to seek approval.