Dorm Room to Boardroom: 7 Inspiring Student Entrepreneur Success Stories

Byfirstclassuni.com

Starting a business in college is not child’s play. With lectures, friendships, and family to balance, throwing one more thing can drive you crazy. 

But some students not only managed to start a business in college, they also grew it to multimillion-dollar companies. 

These students are living proof that starting a business in college can be more than just a side hustle; if you do it right and stick with it through the many ups and downs, it can become a life-changing venture.

Whether you’re considering starting a business in college, you’re currently running a college business, or you’re on the verge of quitting your college business, you’re not alone.

Here are their stories to inspire you to keep going.

1. Alex Smereczniak – 2ULaundry

Source: Alex Smereczniak, LinkedIn

While at Wake Forest University, Alex initiated a laundry service called Wake Wash. 

Surprisingly, Alex actually sold Wake Wash before graduation. He didn’t want “to be branded as the embarrassing laundry guy”. 

After a stint in the corporate world, he returned to his entrepreneurial roots, founding 2ULaundry in 2015. 

The company revolutionized laundry services, expanding to 29 locations and securing $33 million in funding. 

Takeaway: 

  • Identify everyday problems and offer convenient solutions.
  • Never be afraid to go with an unconventional student business.
  • Defy peer pressure.

2. Sophia Lee – bysophialee

Source: Bysophialee blog

Just like you, Sophia was a college student searching for an easy way to make money in between classes. In 2016, after stumbling on a six-figure blog managed by a full-time mom, she got the brilliant idea to start a blog of her own. 

Bysophialee started as a blog where a then 18-year-old Sophia shared college room decor ideas while she worked babysitting jobs and balanced school work. 

By 2020, when she graduated, the blog had brought in enough money to pay off her student debt and get her own apartment. The blog is still going strong today and brings in consistent six figures. 

Takeaway: 

  • You are never too young to start a business of your own.
  • Look to your own personal interests for business inspiration.
  • Be stubborn enough and organized enough to balance business and college.

3. Sam Chason & Matt Gronberg – Storage Scholars

Source: Wake Forest University 

In 2017, in a little dorm room in Wake Forest University, roommates Sam Chason and Matt Gronberg founded Storage Scholars. 

They saw the chaos that erupted on campus when students had to deal with the hassle of moving in and out of dorms and decided to build a business around it.

Deciding to take their business further, they appeared on Shark Tank in 2022, securing a once-in-a-lifetime deal with investor Mark Cuban. 

The business has rapidly expanded across 23 campuses and counting, with big plans in place for the future.

Takeaway: 

  • Look for problems around you that you can make money solving.
  • Find a partner to build with.
  • Don’t be shy to seek out opportunities for expansion.

4. Alex Lieberman – Morning Brew

Source: Alex Lieberman, LinkedIn

In 2014, a 20-year-old Alex Lieberman was just going into his senior year at the University of Michigan, and he already had a finance job lined up for him. 

While helping other students prepare for job interviews, he discovered that a majority read The Wall Street Journal to prepare for a career in finance, but didn’t actually enjoy reading WSJ articles.

So he started a daily email newsletter, Morning Brew, where he shared breakdowns of the biggest finance and business news in easy-to-read, normal people language that university students could enjoy.

The newsletter quickly grew, and in 2020, at just 28 years old, Alex and cofounder Austin Rief sold Morning Brew for a whopping $75 million dollars.

Takeaway: 

  • Start small, focus on clarity, and scale based on audience feedback.
  • Find ways to make people enjoy things they already do/have.
  • Make your business people-oriented.

5. Samuel Aaron, Jamie Horsnell & Joshua Aaron – Mytender.io

Source: mytender.io

University of Southampton students Samuel and Jamie, and University of Nottingham student Joshua Aaron, co-founded Mytender, an AI-driven platform assisting businesses with bid writing. 

Although the platform was created in 2023, its innovative solution has already attracted £250,000 in funding and generated over £10,000 in monthly revenue. 

Takeaway: 

  • Combining technology with industry needs can lead to significant opportunities.
  • AI is an underrated field for business innovation.
  • Don’t be afraid to seek investors early.

6. Seth Berkowitz – Insomnia Cookies

Source: YouTube/CNBC Make It

Craving late-night treats during his university days, Seth started baking and delivering cookies to fellow students. 

This simple idea blossomed into Insomnia Cookies, now with over 260 locations and a majority stake acquired by Krispy Kreme. 

Takeaway: 

  • Personal cravings can uncover widespread market demands.
  • Time-restricted businesses that can bring in money.
  • Basic business ideas can be goldmines if you add a unique twist.

7. Jess Mah and Andy Su– inDinero

Source: Success Magazine 

In 2009, at UC Berkeley, just before graduating, a 19-year-old Jess co-founded inDinero, a platform offering accounting software tailored for small businesses. 

Although the platform was originally designed to offer financial insights for businesses, in 2012, after noticing they weren’t growing as expected, Jess and Andy pivoted. They came up with the fresh idea of an accounting software to do the work for business owners. 

The reinvented platform gained traction, leading to participation in Y Combinator and securing over $10 million in funding by 2023.  

Takeaway: 

  • Addressing the needs of underserved markets can yield substantial growth.
  • Don’t be afraid to reinvent your original idea if you need to.
  • Accept failure as an opportunity for redirection.

Tips for Aspiring Student Entrepreneurs

  • Start with What You Know: Your campus environment is a goldmine for ideas. Identify gaps and think of solutions.
  • Leverage University Resources: Many institutions offer incubators, funding, and mentorship programs. Tap into these assets.
  • Build a Supportive Network: Collaborate with peers, professors, and alumni. Diverse perspectives can enhance your venture.
  • Stay Resilient: Challenges are inevitable. Embrace failures as learning opportunities and keep pushing forward.
  • Balance Academics and Entrepreneurship: Time management is crucial. Prioritize tasks and maintain a healthy equilibrium.

Remember, every successful entrepreneur started somewhere. Your dorm room could be the birthplace of the next big idea. Stay curious, be proactive, and don’t be afraid to take that first step.

Wishing you peace and funds,

Dee

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