I live in a moderately sized city with several small colleges. A friend of mine here, who goes to one of these colleges, wants to start a small homemade tea business, which he would sell at these colleges giftshops and at some of the many independent coffee shops in the area. (A couple small 1-2 person businesses already sell homemade items like this in the area).
He'd like my involvement in this, but I've never been involved in a "startup," if it can be called that. It'd be fairly small-scale (pretty much just him and his wife) so I'm not sure what questions and concerns I should have that I might ask someone trying to start a larger company.
Obviously, I want to taste the tea first and decide if it's good and might sell. But other than that, how can I be confident in a decision to invest/partner with him? And how would you suggest we decide how/when I can get money out? Thanks!