If rooting fails then many things can happen. Like phone simply stay as unrooted just like as it is now or phone starts bootlooping(continuous shutdown and restart cycle) or totally brick(does not even start) in extreme cases.
If you are planning to install custom ROM then make sure ROM is compatible with your device otherwise sensors will not works and you may lose your IMEI and then inserting SIM will not give you SIgnal along with above mentioned problems