First, find a very good accountant and lawyer to help set up all the details.
There is a saying that friends and business don’t mix, make sure all parties are aware of and agree to all the details of how the business will be structured.
IMO, the business needs enough monies (in the bank) to cover all the first years operating expenses.
Health and business insurance is expensive!
There is nothing like being self-employed / business owner, but its no cake walk either.
Good luck!