Michaels Coffee House has expanded, opening a second site in Manchester’s Arndale Centre. Run by entrepreneur Thanasis Michael it has signed a 10-year lease to occupy a 544 sq ft unit on Halle Place.
Michaels Coffee House was established in August 2017 by Cypriot Thanasis Michael, who came to the UK in October 2013. After many setbacks, Thanasis worked in a variety of retail roles before becoming a barista at Starbucks in the Trafford Centre and in the Arndale Centre.
Thanasis was inspired to launch his own business, specialising in organically grown, high-quality, locally roasted, single origin and Rainforest Alliance certified coffee beans, along with a variety of signature and unique beverages and coffees including its famous pistachio, hazelnut praline lattes and Spanish lattes. These are all best sellers for their unique flavour and rich smoothness, along with delicious pastries, daily freshly made in store toasties, cakes, and yoghurt pots.
Michaels Coffee House received investment from FW Capital through the first Northern Powerhouse Investment Fund (NPIF I) in 2023 and is now seeing their growth plans come to fruition.
Thanasis Michael, Owner of Michaels Coffee House explains: “We have experienced significant growth over the last year and worked hard to open our newest coffee house. It is in a great location in the Arndale Centre, and I feel like I’m coming back to my roots because I worked on this very site as a barista for Starbucks before setting up Michaels Coffee House. I have come from zero to achieve this success after arriving in the UK and speaking only a little English. I’m showing that anything is possible with the right attitude and hard work. Believe in yourself and never give up. The team at FW Capital shared my vision and have backed my growth plans which is great.”
The team at FW Capital represented by Loz O’Connor, Fund Manager and Mark Gardiner, Portfolio Executive have worked closely with Thanasis Michael to help him realise his growth ambitions.
Loz O’Connor, Fund Manager at FW Capital said: “Thanasis’ success story is one of grit and determination, showing what can be achieved when you set your mind to it. His journey is inspirational, and I’m thrilled that we’ve been able to back the successful opening of his second coffee house. Thanks, should also go to Geoff Clowes from Greater Manchester Business Growth Hub’s Access to Finance team who introduced us to Thanasis. The investment is helping him to meet the demands of his rapidly expanding customer base.”
Sue Barnard, Senior Manager at the British Business Bank, said: “Michaels Coffee House is a well-known establishment within Manchester, so it’s great to see the business expanding. Having secured funding through the first NPIF, we’re so pleased to see Thanasis using this finance to drive forward growth and open a new venue. “
Geoff Clowes, Access to Finance Adviser at GM Business Growth Hub said: “Michaels Coffee House is growing fast, and I’m delighted to have been able to support their expansion plans. The NPIF funding from FW Capital has made a real difference and I wish Thanasis and the team all the best with their latest venture. It’s also great to collaborate with the team at FW Capital once again, to help local entrepreneurial businesses receive much needed finance to realise their ambitions.
The funding was from NPIF – FW Capital Debt Finance, which was managed by FW Capital and part of the Northern Powerhouse Investment Fund. It provided loans in the NPIF region with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire, Merseyside, and the Tees Valley.
The British Business Bank has since launched the £660m Northern Powerhouse Investment Fund II in March 2024.
The new £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England. NPIF II - FW Capital Debt Finance, can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire, and Merseyside, with some flexibility to lend across the North.
