Should my 25 yo son quit his 40k/yr job to work for his mentor for free?

I originally had similar thoughts but not necessarily exploitation. Unfortunately, the business is not up and running yet and there is not income to pay. We are friends with the gentleman in question and am quite sure he has no intention of using him for labor and then dropping him when things get going. He is giving my son an opportunity to learn OJT and then hopefully, take over for him once things are up and running so he can move it to other areas. At that point, the potential salary will be 100k plus and plenty of room for growth. The mentor wasn’t a mentor to begin with but has turned into that title because all of the things he is teaching my son. I did look up the laws concerning an “unpaid internship” position but that is not what this is. It is merely a friend, who asked if he was interested in being his assistant in jump starting this business in the new city and surrounding cities.