It sounds to me like these are two separate businesses. Running the kitchen at the college one business where you will be serving a specific product to a very specific audience.
The catering business is a very different business that will serving a very different set of customers. The catering business will be using some of the facilities of the college and you may have to pay the college rent in order to use the kitchen there. You will need to come up with an agreement with your business partner as to that financial relationship.
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