Finding someplace to retailer your stuff as a scholar could be painful and storage firms aren’t tailor-made to a youthful demographic. Storage Scholars is totally different because it gives a simple manner for college students to ship their stuff to faculty and retailer it for the summer time. Founders Sam Chason and Matt Gronberg appeared on season 14 of Shark Tank to pitch their enterprise. As of 2024, Storage Scholars is price an estimated $4 million.
About the Founders
Matt Gronberg is from Winston-Salem, North Carolina, whereas Sam Chason is from Austin, Texas. The pair met as college students at Wake Forest University. Matt studied biochemistry and molecular biology, and his accomplice pursued enterprise and enterprise administration.
Apart from beginning a enterprise, they did a number of issues collectively in school. Both turned members of the Pi Kappa Alpha Fraternity, the place in addition they turned organizers of social and philanthropic occasions. Sam and Matt graduated from the category of 2020.
Founding the Company
To fund his research, Chason wished to run a worthwhile aspect hustle. He observed that almost all worldwide college students solely introduced two large suitcases with them. The remainder of their issues have been purchased close to campus, however there was no storage for them through the summer time.
In 2017, he launched Storage Scholars, serving to college students transfer their issues and have a secure place to retailer them for the summer time break. Later on, Sam employed Matt because the COO.
Together, they partnered with a number of organizations and faculties to develop their enterprise. They reached new states however initially determined to keep in areas close to North Carolina to keep the standard of their service.
Getting on Shark Tank
Sam and Matt’s firm has been rising quickly in 2024. This yr alone, they partnered with 15 faculties and added new members to their govt crew.
More importantly, they want to elevate capital and convey on a strategic accomplice. Like many aspiring entrepreneurs, it has all the time been a dream for them to pitch their enterprise on Shark Tank.
The reality the corporate had $2 million in year-to-date gross sales impressed the Sharks. You can even inform from the pitch, the duo put loads of effort into preparation and did an excellent job on storytelling and sharing monetary efficiency.
After Shark Tank
Although the episode solely just lately aired, the optimistic PR from being on tv shall be enormous for the corporate. The technique of focusing on a selected viewers is working properly. Previously they supplied a shifting service however they ditched it to concentrate on storage.
Storage Scholar served 23 campuses prior to now educational yr and is now in universities equivalent to Elon University, Davidson College, UNC, High Point University, and Duke University. By Summer 2024, they’re anticipating to be in 50 faculties and can make properly over $2 million.
The firm has gone from 2 to 7 full-time workers over the past yr and employs 400 part-time college students. The scholar storage service has a 4.8 common star score from over 3,500 prospects on its web site, StorageScholar.com. Currently, the corporate is price an estimated $4 million.
