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Heidi,
Congrats on your work so far, and I hope this decision works out for you.
I think a lot of people here have brought up some extremely valuable points. I'd like to add some other comments though, as I think, although you don't want yourself to be taken advantage of, you're better off working anonymously while gaining more experience at what you do than working with your name proudly on your chest at Burger King.
First your age, or better, your "level" - Do you have an impressive portfolio already? If so, are they of works that could lead to the right type of commissions (by that I mean look at your portfolio from a marketing perspective). Now weigh that against what type of works would you be doing under this role - commissions of busts of real people, or making copies of some other person's style (aka knock off art). If it can't help your portfolio, it's not worth it. If it can, spending some time in the trenches anonymously can give you some valuable experience.
Next issue - He's providing the clients, but who's providing the "art direction". If you are making things to his order that may still have some value, as you get to see how that world works and how a project gets executed. If you get a promised agreement to be able to advance so to meet and art direct with clients directly, even better. If you have to simply take orders, then take what you can from the experience but have an exit plan.
Will he try to get a "finders fee" from whatever works you may be receiving, including those that come to you independently? Here I think the anonymous thing under him is an advantage. This way you can argue that you will still be free while working for him to find customers independent from him that are not his in any way, and use as justification that since you're "anonymous", in no way is his advertising expense getting you clients independently from him - get what I mean?
So you work for him and in the meantime you learn how and where he finds prospects, how he talks to them, manages them, bargains with them, etc. Then as you build your great portfolio you'll learn how to conduct yourself with clients, and, with luck, your style will emerge to the point you go solo with confidence.
I'd be sure to have a clear "out" clause, a clear termination to the contract, a clearly stated right to use images of what you produce under his tenure and that they are usable in your own self-promotion in the future, and a clear limit to what is his art and what is yours. (For example, if you make a sculpture for yourself while under his contract, it may be his.)
I think it's important to skip having an agent if possible, but IF you're someone who: doesn't know or doesn't like being a salesman, who doesn't know or doesn't like marketing, well, then there's another compelling reason to do this. I met a portrait artist one time who confessed he had absolutly no rapport with people, including the people he paints. Yet he loves to paint people. He was so hoping to have a rep so he could just paint people, and maybe even avoid ever meeting them. Now that's extreme, but hey, you have to be honest about whether you are a people person or not.
If hope this provides some other angles that aren't too silly to consider. I'm sure you'll make the right choice for yourself.
Linda
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