Storage Scholars on Shark Tank: Cost, founders, background story, and all about the business

Shark Tank season 14 episode 4 will feature a start-up founded by university students Sam Chason and Matt Gronberg called Storage Scholars. According to Growjo, the company’s revenue is estimated to be $3.5 million every year.

Chason and Matt founded Storage Scholars in 2017 to earn money so they could fund their college education. They founded Storage Scholars, a full-service company that does the packing, picking-up, shipping, and delivery for university students who do not have a car.

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About the founders of Storage Scholars

Currently, Sam Chason serves as the chief executive of Storage Scholars while Matt Gronberg serves as the CEO of the popular storage company.

Sam Chason

Sam attended Fox Lane High School. He joined Wake Forest University in 2016 and received a degree in Bachelor of Science. He has also volunteered in many agencies like Campus Kitchen and El Buen Pastor Latino Community Services.

Sam was also a part of Pi Kappa Alpha International Fraternity. His parents gave him the full cost of a state university instead of money for the private school tuition fees.

His LinkedIn profile also mentions that he founded another company in 2021 called Housing Scholars, which provides single-family houses to students of Wake Forest University.

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Matt Gronberg

Matt has a Basic Life Support certificate and enrolled into Wake Forest University in 2017. He graduated in December 2020 with a Bachelor’s in Biochemistry and Molecular Biology.

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More about the services provided by Storage Scholars

Sam and Matt founded the company in 2017 when they felt that the international students faced a tough time with their stuff while going home after the end of the semester. Speaking about the problem, Sam said:

"When traveling from China, Ethiopia, or India, for example, students would often carry two large suitcases full of supplies and then buy the rest of their belongings locally upon arrival to campus."

The company helps students from 23 countries store their products and redeliver their luggage after the vacations are over. Storage Scholars currently has a 4.8-star satisfaction rating with 7400 customers. Speaking about the company, Gronberg said:

"To have the opportunity to go on one of the world’s largest entrepreneurship platforms and share our story is a childhood dream come true."

The company partners with universities and all of the job is done by student employees only, providing a new job market for them. Chason stated:

"They’re providing this service to their peers at a larger scale than I ever could’ve imagined when knocking door to door as a freshman six years ago."

The services include packing up luggage, storing them in a safe space, and redelivering those products before the vacation ends, rather than packing for the customers. Users can take advantage of these services by simply signing up on their website and uploading photos of their luggage.

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Cost of Storage Scholars services

The company provides storage services three times a year for four months each: Summer, Fall and Spring. The cost for each student varies on the luggage they have. Each box costs $17 per month while a camp duffle costs $23 each month. The price for suitcases ranges from $18 to $20 and a plastic bin costs from $16 to $19.

Television costs $20 to $30 based on the size.

The Storage Scholars founders will look to convince a panel of five sharks Rovert Herjavec, Lori Greiner, Kevin O’Leary, Mark Cuban, and Daymond John on October 14 to invest money in their company.