April 21, 2025

Built from Scratch Podcast: From Pre-Med to $7 Million

This article is based on my appearance on the “Built from Scratch” podcast, where I shared the complete story of building Storage Scholars from a college side hustle to a multi-million dollar business.

Originally from North Carolina, I dreamed of becoming an orthopedic surgeon.

Today, at just 26 years old, I co-own Storage Scholars, a company that has grown from an $18,000 startup in 2017 to generating $7 million in top-line revenue while serving 150 colleges nationwide.

My entrepreneurial journey proves that sometimes the best opportunities come from unexpected directions.

Value of Hard Work

My entrepreneurial foundation began early, though not through my own initiative. My father, recognizing the importance of financial literacy, required me to work for my own money rather than simply asking for it. This philosophy shaped my approach to everything that followed.

Starting in fourth grade with Jump Rope for Heart fundraising, I learned the art of cold calling. Instead of my parents emailing their workplace contacts, my father handed me a list of 25 phone numbers and insisted I call each person multiple times until they answered. This early training in sales and communication would prove invaluable throughout my career.

By age 11, I had started my first real business venture: a car detailing service. What began as washing my parents’ cars for $10 evolved into a full detailing operation charging $100 per car by the time I was 14. The business taught me about quality control, customer service, and the value of continuous improvement – lessons that would serve me well in my future endeavors.

The Football Boosters Achievement

My entrepreneurial instincts truly emerged during high school when I sold football booster cards – discount cards featuring local business offers. While most students sold modest numbers, I approached the challenge differently. I systematically targeted wealthy neighborhoods, knocked doors during optimal hours (5-7 PM when people were arriving home from work), and even employed creative tactics like wearing a muddy practice jersey to appear more authentic.

The results were remarkable: I sold 88 booster cards while the next highest seller managed only 12. This experience taught me that with the right approach and dedication, exceptional results were possible. More importantly, it showed me the power of systematic thinking and strategic execution.

The Birth of Storage Scholars

When I arrived at Wake Forest University, I remained committed to my pre-med track while working various jobs to pay my way through school. My path changed when I met Sam Chase, a fellow student who had started a storage business for international students who couldn’t afford expensive shipping costs home.

Sam’s business, Storage Scholars, began when international hallmates asked him to store their belongings over summer break for a fraction of shipping costs. Sam went door-to-door in freshman dorms, collecting $50 deposits and using that money to fund the first month of storage. When Sam approached me about joining the operation, I was working as an intramural referee for $7.25 per hour.

My entry into the business demonstrated my natural sales ability and systematic thinking. During winter break, I created group chats with Boston-area students, had them add their mothers, and cold-called these parents to sell the storage service. My approach of getting financial commitment upfront ($50 deposits) rather than just interest proved crucial to the business model.

Building Through Adversity

The early years of Storage Scholars were characterized by extreme dedication and sacrifice. Sam and I worked grueling schedules during move-out periods, often staying up all night to load trucks, drive to storage facilities an hour away, unload everything, and repeat the process. These 100-hour weeks tested our commitment but also built the foundation for our future success.

For the first four years, neither Sam nor I took significant salary from the business. We lived on $5,000-$10,000 annually while reinvesting everything back into growth. This period taught us financial discipline and proved our dedication to building something larger than ourselves.

Strategic Growth and Scaling

As Storage Scholars grew, Sam and I learned to transition from a scarcity mindset to strategic investment. Early on, we did everything as cheaply as possible – using chalk for marketing, printing flyers on school credits, and paying minimal wages. As the business matured, we recognized that time became more valuable than money, requiring larger budgets and more intentional planning.

The business model evolved to include comprehensive moving, storage, and shipping services for college students. Students receive packing supplies, professional moving teams pick up items from dorm rooms, store them during summer break, and redeliver them when students return to school. This systematic approach to a common student problem created a scalable, repeatable business model.

Personal Growth

One of the most valuable lessons I learned was the importance of starting a business while in college. The resources available to students – free software, minimal living expenses, extensive support networks – create an ideal environment for entrepreneurship. More importantly, the financial risk is minimal when you’re already living on a tight budget.

When we graduated, Sam and I faced a crucial decision about compensation. With the business generating around $300,000 in owner earnings, we chose to pay ourselves just $40,000 each in our first year post-graduation. This discipline allowed us to reinvest in growth, hire our first full-time employees, and expand our marketing efforts.

Our financial strategy also included smart hedging through maxing out Roth IRAs and investing in real estate in our familiar college market. We purchased eight houses in Winston-Salem, leveraging our knowledge of where students wanted to live to build a complementary revenue stream.

Partnership Dynamics

My partnership with Sam has been fundamental to Storage Scholars’ success. We treat our business relationship like a marriage – it requires constant communication, mutual respect, and clear boundaries. We’ve learned when to work closely together and when to give each other space.

Our rule is simple: business comes first. If we both perform our roles effectively, the friendship and celebration naturally follow. We FaceTime each other every time we have good news, creating shared moments of victory that strengthen both our business and personal relationship.

Future Vision

If I could give advice to my 18-year-old self, it would be to maintain the same work ethic and dedication but approach challenges with more positivity. I spent too many years fueled by anger and frustration rather than finding joy in the process. Learning to laugh about difficult situations and share crazy customer stories made the journey much more enjoyable.

Looking ahead, I envision Storage Scholars transforming the entire moving industry. The moving industry is plagued by poor service, broken promises, and unethical practices. We want to prove that a service-focused, technology-enabled approach can create a better experience for everyone involved.

The Philosophy

My core philosophy is captured in the quote: “How you do anything is how you do everything.” This mindset creates opportunities for what others might call luck. When you approach every task with excellence – whether it’s studying for exams, working a part-time job, or building a business – the right people notice at the right moments.

I reject the notion that poor academic performance somehow qualifies someone for entrepreneurship. You can excel in school AND build a successful business. The discipline and work ethic required for both are fundamentally the same.

Full Podcast

Watch the full interview below, or click here to watch it on YouTube.

Storage Scholars: Matt Gronberg (26)

Conclusion

Storage Scholars represents more than just a successful business – it’s proof that combining systematic thinking, relentless execution, and genuine care for customers can create extraordinary results.

Here are my key takeaways:

  1. Start Early: College provides the ideal environment for entrepreneurship with minimal financial risk and maximum resources. Don’t wait until you have more experience or capital.
  2. Focus on Systems: Success comes from systematic approaches rather than random effort. Whether selling booster cards or building a storage business, having a repeatable process is crucial.
  3. Embrace the Grind: The early years require sacrifice and extreme dedication. Living below your means and reinvesting profits creates the foundation for sustainable growth.
  4. Partnership Matters: Choose business partners carefully and treat the relationship with the same seriousness as a marriage. Clear communication and shared values are essential.
  5. Financial Discipline: Resist the temptation to extract profits too early. Strategic reinvestment during growth phases creates exponential returns later.
  6. Customer-First Mindset: Building a business around solving real customer problems creates sustainable competitive advantages.
  7. Excellence in Everything: Approaching all tasks with high standards creates opportunities for advancement and recognition.
  8. Adaptability: Be willing to pivot from your original plan when better opportunities emerge, but don’t abandon ship at the first sign of difficulty.
  9. Long-term Vision: Building a meaningful business takes years, not months. Patience and persistence are more valuable than quick wins.
  10. Enjoy the Journey: Find ways to celebrate wins and maintain perspective during difficult periods. The entrepreneurial journey should be challenging but not joyless.

The journey from pre-med student to successful entrepreneur taught me that the best opportunities often come from unexpected directions, and success comes to those willing to work harder and think more strategically than their competition.