Collaborative Show

Hey everyone,
I'm currently planning a collaborative show with someone but not sure what to expect. Has anyone ever done this before?

I'm thinking it's a good idea to get an additional audience to see my work but are there any pitfalls in sharing space and exposure with someone else that I'm not thinking of?

Also, I'm planning this in a small space. Is it worth it to find a larger space to have this show? Just not sure what factors to consider in planning the space.