I don't really encourage young magicians to teach other people magic because your still learning as well. I would tell them what books to start reading or lend them a book, this way you can tell if their really interested in doing magic, or it's just something they think they might like- this should be a good test.
Just because you can do something, doesn't mean your good at teaching it. Leave it to the pros who wrote the books (Royal Road) to teach beginners how to start magic. You may know some knowledge, but I can guarentee you that they'll get a much better education learning from professionals than yourself.
I'm not trying to be mean or anything, don't take it that way. You can help your friend along the way if he needs help with a certain aspect of sleight of hand that he doesn't understand. By all means help him, cause I'm sure he'll need help just starting out.
But like I said, point him in the right direction, and if he really wants to learn, he'll take it upon himself to learn it by himself.