Finding somewhere to store your stuff as a student can be painful and storage companies are not tailored to a younger demographic. Storage Scholars is different as it provides an easy way for students to ship their stuff to school and store it for the summer. Founders Sam Chason and Matt Gronberg took the idea to Shark Tank and landed a deal with Mark Cuban. As things stand, Storage Scholars is worth $15 million, reflecting strong revenue growth and an expanding campus footprint.
The Guys Behind Storage Scholars
Sam Chason is originally from Westchester County, New York, while Matt Gronberg is from Winston-Salem, North Carolina. The pair met as students at Wake Forest University, where Matt studied biochemistry and molecular biology and Sam pursued business and enterprise management.
Beyond building a company together, the two became close friends at university. Both joined the Pi Kappa Alpha Fraternity, where they organised social and philanthropic events. Sam graduated in the class of 2020, with Matt following in 2021.
How It All Started
To fund his studies, Chason wanted to run a profitable side hustle. He noticed that most international students only brought two big suitcases with them. The rest of their things were bought near campus, but there was no storage for them during the summer.
In 2017, he launched Storage Scholars, helping students move their things and have a safe place to store them for the summer break. Later on, Sam hired Matt as the COO.
Together, they partnered with several organizations and schools to expand the business. They expanded into new states but initially decided to stay in areas near North Carolina to maintain the quality of their service.
Their Growth Since Shark Tank
The episode aired in October 2023 and the positive PR from the show has been huge for them, The strategy of targeting a particular audience is working well. Speed will be crucial for the company and they will need to sacrifice profits to partner with new universities. Cuban will need to invest more capital within the next year to fund the growth.
What started at 23 campuses has expanded dramatically, Storage Scholars now operates at over 200 U.S. campuses and was projected to generate over $10 million in revenue in 2025, up from the $2 million reported in early 2024.
The team has scaled accordingly. The company now has 13 full-time staff members and approximately 1,000 seasonal workers, each paid at least $15 per hour, with experienced staff earning up to $25 to $27 per hour. Student wages are expected to total $1.75 million annually. The company has served over 10,000 customers and holds a 4.7-star rating from reviews on StorageScholar.com.
A landmark partnership is set to accelerate growth further. Storage Scholars has partnered with StarRez Student Housing Software, a platform used by more than 1,000 universities. Beginning in Spring 2026, Storage Scholars will be embedded directly into the Residence Life and Housing onboarding process at its partner universities Old Gold & Black, a deal that could dramatically expand its reach overnight.
Sam has also launched a second venture, Housing Scholars, a company that rents single-family homes to students. Looking further ahead, he envisions Storage Scholars operating outside the US within five to ten years.
Pitching to the Sharks
Sam and Matt gave a confident pitch and did a great job clearly explaining their service. In 2023, the company partnered with 15 schools and added new members to their executive team. Crucially they have full key access to customers’ accommodation and a web app that allows them to scale their operations.
Both guys have been able to clear their student debt with the profits. The fact the company had $1.826 million in year-to-date sales impressed the Sharks and a bidding war soon broke out.
Kevin O’Leary offered $250,000 for 10% and Daymond matched Kevin’s offer. Robert upped the stakes and offered $500,000 for the same equity. The founders struck a deal with Mark Cuban who paid $250,000 for 10%.
