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I would put everything down in writing... get it notarized and stash this contract away if you need it...
Business is business and friends is friends.... the two don't always go together...
Some other things to cover:
What happens if a tool breaks? They are yours do you get reimbursed?
What about gas for the transportation? Does that come off the top of the profits?
What are you charging your customers?and who decides that How are you getting your customers?
Who is in charge for dealing with problems as they arise?
How are you dividing the profits?
How will you seperate if need be?
Good luck..
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Free your heart from hatred. Free your mind from worries. Live simply. Give more. Expect less.
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