Yeah that changes the equation a quite a bit. I’m looking at this same thing right now with an old friend from college and I’m going to treat this as I would any wholesale situation. Definitely more of an “old friend/acquaintance” than a friend-friend, but if they’re making money on it then I don’t feel it’s wrong for me to get a piece of it too. Because if they weren’t paying me something, they’d probably be paying someone else even more.
In my case it’d engraving her insanely amazing sketches, so it’s time intensive when I’m already crazy busy with the laser. And since I’m in CA and they’re in FL, I’d be supplying the material and dealing with shipping finished product back to them.
Definitely keep art-time in mind too. If they’re providing the files, unless you give them a nice crash course about how to design for lasers, there’s gonna be some time on your end to make their art laser-friendly. (my worst nightmare)