Had a guy make a similar offer to me several years ago. When it got down to the really fine print I was responsible and liable for every bad thing while he banked the bulk of the profits. He also told me prior to all the legalese it was a 50-50 proposition and then in the paperwork it was a 60-40. When I asked about the discrepancy, he stated that he decided that he would never be an equal partner with anyone and wanted to have complete control over the biz.
I didn't let the door hit me on the way out.
Avatar is a tribute to my Great Grandfather, Andrew Stewart. This pin was one of his advertisements for his heating and plumbing business. I never knew him but must of inherited his love of things mechanical since I am the only blue collar worker in the family