Unless the two of you will be sharing the books, then set-up separate accounts. You can log out of one account and into the other any time you want. The only problem is that it will redownload all books each time you do this.
Another way is to create a second account on the computer (assuming Windows, don't know if you can for a Mac). That way you can set-up Kobo for you friend. Each time you want to connect their Glo, switch to that account. This will avoid the need to download the books when you change accounts.
Also, all this can be done without a computer. The Glo can be set-up using WiFi and will sync books with the Kobo server using WiFi. If you have a USB charger, you don't have to ever connect the device to a computer.
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