The two of you should really sit down and discuss this together. Personally, I would want to split it 50/50 and then divide the space equally.
I did a show with a friend, we decided to have our stuff co-mingled on our shared table... by the end of the weekend, I had made more sales than she did and I'm sure that there was animosity because of it.
You don't yucky business stuff messing around with your friendship (trust me), so the best bet is to really really sit down and discuss everything openly and candidly. Even issues such as whether or not both of you need to stay at the table/ booth all the time, if you're helping sell the other's stuff, how to split the space, if you plan on sitting during the show... literally everything you can think of. You might not think that some of that small stuff matters, but during a show when you're excited, stressed, etc, its best if your both on the same page and knows what to expect from the other person.
When you mix your stuff together, how do you keep track of how much each one of you sold? If a customer buys 2 things, and pays with a $20, do you keep the money seperate or do you keep inventory of your things and know how much you should have out of the total money given at the end of the day.
Just curious....
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