MANILA -- Franchised businesses in the Philippines enjoy a higher success rate of 90 percent versus the general retail industry’s 25 percent, according to the Philippine Franchise Association.

And with return on investments coming in as quick as less than a year, it can be an ideal option for first-time entrepreneurs.

Already decided on the type of business you'll start? After doing your research and finding a suitable location, you can start your franchise business application with potential franchisors.

Below are the 4 steps you would need to go through. For more finance tips, visit MoneyMax.ph.