I would like to open a quilting/fabric store in my town. I have extensive quilting knowledge and experience, but limited money. An acquaintance also has considered opening a shop, however she is in her late 60s, has no business experience, and has realized she probably would not want to do the day-to-day work involved. However, she does have the finances necessary for startup.
While I`m confident in my ability to take care of the daily running of the business, I don`t have much knowledge of financing or various types of partnerships. Is there some way the other woman and I can create a partnership that would be fair to both of us?