Grand Rapids coffee shop Corridor Coffee was sold to individual investors Katie Sargent and Alyx Schroeder.
Co-founders and husband-and-wife duo Melissa Somero and Max Friar said they chose to sell Corridor, 637 Stocking Ave. NW, because Somero was the sole operating partner, and Friar became involved in other business ventures. Additionally, the two are in their late 30s with a family and underwent a lot of stress keeping the business open during the COVID-19 crisis.
“We had a wonderful time starting and growing the business — and we crushed it during COVID — but overall, it was just too stressful,” Friar said. “The buyers, Katie and Alyx are in their 20s, no children, etc., and they simply have the energy, time and enthusiasm that we did not.”
Friar said business at Corridor Coffee has returned to 85-90% of pre-COVID-19 levels.
Friar also is the co-owner of Small Business Deal Advisors, which served as an M&A adviser to Corridor Coffee. This included providing advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.
“I knew from the moment I met Katie and Alyx that they were the right fit to take Corridor to the next level,” Somero said. “They are smart, ambitious, they understand retail and they are great with people. I look forward to seeing the shop thrive under their leadership.”
“We are so excited to continue growing Corridor,” the buyers said in a joint statement. “Melissa and Max have given us a solid foundation to build on, we couldn’t have gotten luckier to have been given the opportunity to go on this journey with them. We hope Grand Rapids loves what we have in store.”
Established in 2018, Corridor Coffee became known for a welcoming community vibe, premium coffee and espresso drinks, gluten-free offerings, ample free parking and an upstairs that is more and more frequently rented for bridal showers, baby showers, birthday gatherings and corporate retreats.