I'm a bit late in replying to this but it may be more pertinent now.

Most of what I would have said others have said. I'm in a 21 yr old partnership that works well but it didn't happen by accident, and it has had its bumps along the way, but it has evolved into something that now works well. A partnership is always easy when things are going well. However, went you hit a financial bump, or the economy takes a dive...will it survive when you have very little if any cash and it's time for the partners paychecks...who's going to get what? Will you divvy up the cash based on need, worth, or just spit it. Will your partner feel shortchanged because he's (his family) is only getting a third while yours is getting two thirds?

The only other thing that I see that I don't think has been mentioned is the certifications. If these are that important or required by law, your partner will be in a position to hold you hostage at some point in time.

If you've waited a year so far, you might want to wait a bit more. At present the economy is headed south, credit markets are frozen (to me a good thing) and people are likely to be cutting way back on spending on their toys. Recreational dollars are going to take a back seat to just keeping the rent paid and food on the table. The motorcycle can sit in the garage not running.

If you do go ahead anyway, be sure to start without debt...borrowing (if you even can) to finance your start-up will only make things more difficult.
Good luck