Storage Scholars is a moving and storage company that caters exclusively to college students. When students, especially new or international ones, move to different colleges, they often have to change residences.
Moving to a new home often requires purchasing new items like beds and furniture, significantly increasing students’ expenses. Storage Scholars aims to solve this problem.
At the end of each semester, the company packs all student belongings into boxes. To move and store their items, students simply sign up on the company’s website and specify what needs to be stored. Storage Scholars provides the necessary boxes, and once the items are packed, students schedule a pickup.
The cost of storing a box is $17 per month, with a minimum commitment of 4 months. The company also ships the boxes, though additional shipping fees apply.
In addition to boxes, Storage Scholars stores luggage, plastic bins, furniture, couches, bedroom items, shelves, and miscellaneous items, with different pricing for each category.
As of October 2022, the company has partnered with several campuses, including Elon University, High Point University, and Washington and Lee, among others.
| Company Name | Storage Scholars | |
| Founder | Sam Chasson and Matt Gronberg | |
| Founded | 2017 | |
| Product | Student Storage Made Easy | |
| Asked For | $250K for a 5% Equity | |
| Final Deal | $250K for a 10% Equity | |
| Shark |  Mark Cuban | |
| Episode (Shark Tank USA) | S14 E4 | |
| Air Date | Oct 14, 2022 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Winston-Salem, North Carolina, US | |
| Lifetime Worth (Sales) | $1.8M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Storage Scholars?
Sam Chason is the founder and CEO of Storage Scholars LLC, which he started in 2017 with his friend Matt Gronberg. Sam is also the co-founder of Housing Scholars, a company that rents single-family homes to students.
He holds a Bachelor of Science degree from Wake Forest University and attended Fox Lane High School.
Matt Gronberg, the Co-Founder and COO of Storage Scholars, also graduated from Wake Forest University.
How Was The Shark Tank Pitch Of Storage Scholars?
Sam Chason and Matt Gronberg entered Shark Tank with their moving and storage company, seeking $250,000 for 5% equity, valuing their business at $5 million. They explained to the Sharks that they have partnered with multiple college campuses across the U.S.
In the early stages of their business, they served 64 customers, generating $18,000 in revenue. Sam shared that he had used the business’s earnings to pay off all his student debts.
Sam holds 70% equity in the company, while Matt owns 30%. They have not taken outside investment so far, and by October 2022, their company had generated $1.86 million in revenue.
Kevin O’Leary was the first to make an offer, proposing $250,000 for 20% equity, which made the other Sharks laugh. Lori Greiner liked the concept but felt the valuation was too high, so she opted out. Daymond John, however, matched Kevin’s offer of $250,000 for 20% equity.
Robert Herjavec, impressed by the business, doubled the offer with $500,000 for 20% equity. Mark Cuban then offered $250,000 for 12% equity.
The founders countered with $350,000 for 8% equity, but Mark declined, saying he would do the deal for 10%. Sam and Matt then countered with $300,000 for 10% equity, but Mark held firm at $250,000 for 10%. Ultimately, they agreed to a deal with Mark Cuban for $250,000 in exchange for 10% equity.
Finalize: Mark Cuban invested $250k in Storage Scholars Company in return for 10% equity.
Storage Scholars Shark Tank Update
All the Sharks on Shark Tank liked the business concept and revenue model of Storage Scholars, recognizing its essential service for students needing to move, store, and deliver their belongings.
While many companies provide logistics services, Storage Scholars stands out by focusing on the specific needs of college students. The Sharks acknowledged the company’s fast growth but noted that rapid growth can sometimes lead to challenges.
Mike Lester, a student from Wake Forest University who worked with Storage Scholars, spoke highly of the company.
Many Shark Tank viewers believe this business solves a significant problem for students moving out of dorm rooms. As of October 2022, the company’s revenue stood at $1.86 million, with projections to reach $2 million by the end of the year.
By November 2022, Storage Scholars was servicing more than 46 universities across the U.S., including American University, Babson College, Belmont University, and Boston University, among others.
According to PRNewswire, in February 2023, Storage Scholars partnered with SIRVA, a leading global moving and relocation company that operates in over 190 locations worldwide.
By August 2023, Storage Scholars had expanded to 73 college campuses, with plans to take the company international.
Sam and Matt delivered an energetic pitch on Shark Tank, aiming to convince the Sharks to invest and help grow their business. Mark Cuban, who has experience in this industry, expressed his commitment to mentoring the company and helping it expand. As of October 2022, the company’s revenue remains $1.86 million.
We will continue to follow Sam Chason, Matt Gronberg, and their company for further updates.
What Is Storage Scholar’s Net Worth?
In 2022, Storage Scholars marked its fourth year in business and continues to grow steadily. According to reports, the company’s average annual revenue is approximately $1.5 million. Currently, the company’s estimated net worth is around $3 million.
Annual Revenue by Years
Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.
| Years | Annual Revenue |
| 2023 | TBD |
| 2022 | $1.8M *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| N/A | N/A | N/A |
Headquartered in Winston-Salem, North Carolina, Storage Scholars is focused on expanding its services across college campuses throughout the United States.
Yes, Storage Scholars is still in business as of April 2024.
