On the other hand, there are many success stories of friends who went into business together and succeeded to together. If you have ever gone into business with a friend, what were your biggest concerns and how did work through it.
I'd be concerned about my friend's financial status. If he has a stable income and is responsibly taking care of his family.
Success stories are likely to be friends who have the kind of personality that is really trustworthy and the two give importance to the relationship.
They wouldn't be friends if they don't know each other's behavior. Friends have the same colors and feathers that's what they say but if from the beginning you already know this friend of yours will likely cheat, then it's not worth partnering a business with him.
You guys can be very good friends and surely you must have known the character of your friend and your friend must have also known yours. So, it's fine that friends go into business because they will synergize with the same spirit and friendship and make the business successful. But what happens is that ones it comes to business, there is nothing like friendship or family, everything should be documented and agreement made in a legal form. The document should capture the responsibilities and the sharing of profits. Every thing should be spelt out correctly before you start business with your friend, or even your brother. That understanding that relationship is different from business will keep the business going.
If you go into business with your friendly blindly, there must be some problems in the future, either from you or your friend or relatives.