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Your Business Your Life
Matt Di Francesco
Recent Episodes
Attracting and retaining talent is a persistent challenge in the collision repair industry, and industry engagement plays a critical role in overcoming this issue.
The struggle to find skilled technicians and support technical education programs leaves many shop owners feeling overwhelmed and unsure of how to bridge the workforce gap. Without a steady pipeline of trained professionals, the industry's future is at risk.
Join Matt Di Francesco and Brandon Eckenrode, Executive Director of the Collision Repair Education Foundation (CREF), as they discuss the power of local industry involvement, offering practical strategies for shop owners to mentor students and secure a sustainable future for the collision repair industry.
Matt and Brandon also talk about:
(01:54) Why is finding talent in the collision repair industry such a challenge?
(03:14) The crucial role of combining iCAR and ASE training with ADAS advancements
(05:21) How can we shift the negative perception of being a “grease monkey”?
(07:06) What initiatives is CREF taking to tackle the talent shortage
(08:47) How CREF recruits students and connects them with shops after graduation
(10:53) How can shop owners engage with local schools to attract talent?
(14:35) Can young hires' fresh ideas create a mutually beneficial learning environment?
(17:35) How can educators, industry leaders, and recruiters collaborate to attract your techs?
(19:07) What’s the best way for a shop owner to get involved in supporting new talent?
Connect With Brandon Eckenrode
LinkedIn: https://www.linkedin.com/in/brandon-eckenrode-9b51107/Email: brandon.eckenrode@i-car.com
Website: https://collisionrepaireducationfoundation.org/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
About the guest:
Brandon Eckenrode began his career in 2002 with I-CAR's marketing department before joining CREF in 2009.
Since then, he has been dedicated to supporting collision programs at high schools and colleges across the U.S., helping to train and develop the next generation of technicians.
As Executive Director, Brandon is committed to promoting the collision repair industry as a viable career path and addressing the workforce shortage by attracting new talent.
Under his leadership, CREF is focused on strengthening educational initiatives and ensuring a sustainable future for the industry.
Brandon is a familiar face at industry events and shows, where he actively engages with stakeholders to advance CREF’s mission.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Managing costs and staying profitable is a constant challenge for independent collision shop owners, and education plays a crucial role in overcoming these hurdles.
In this episode, John Shoemaker shares his passion for helping shop owners educate themselves and their customers about the value of their services—ensuring they are properly compensated for their work.
With years of experience in business development. John has helped many shops refine their processes and improve their bottom line. He understands the importance of accurate invoicing, validating costs, proper documentation, and building strong relationships with claims adjusters.
Join Matt DiFrancesco and John Shoemaker, AMAM, Business Development Manager - BASF Automotive Refinishes North America, as they explore the power of education in the collision industry, offering practical advice on how shop owners can stay ahead, maximize efficiency, and confidently communicate their value to customers.
Matt and John also talk about:
(05:38) Why do shop owners struggle with charging through invoices?
(08:52) The two towers in the insurance world
(11:53) Why proper documentation is the key to success
(13:25) Should shop owners invest in sales training for their staff?
(16:27) The benefits of finding your niche
(18:43) Why owners should start educating their customers on what sets their shop apart
(24:17) How to develop better relationships with different claims managers
(28:33) Where can shop owners learn to improve documentation, billing, and repair planning?
(30:29) Why shop owners should invest in personal development
(33:30) What is appraisal burnout?
(35:51) The power of paying it forward in the industry
Connect With John Shoemaker
LinkedIn: https://www.linkedin.com/in/john-shoemaker-amam-a0800020/
Email: john.a.shoemaker@basf.com
Phone: 7574357118 (Mobile)
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
About the guest:
John Shoemaker is the Business Development Manager for BASF Automotive Refinish Coatings - North America and has been in the automotive repair industry since 1973.
His career began as a helper in a small body shop in California before serving in the U.S. Air Force as a technician, vehicle maintenance manager, accident investigator, technical instructor, and management system analyst.
After returning to the civilian sector, he managed several dealership collision centers, served as a dealership service director, and founded JSE Consulting, where he provided training in damage analysis, marketing, lean implementation, and collision center management.
John has contributed to industry advancements by assisting CCC Information Services in developing the Production Assistant system and working with DuPont Performance Coatings to validate data connector needs.
He holds an Accredited Master Automotive Manager certification and has presented training programs at SEMA, NACE, AASP/NJ Northeast, and other industry events.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
As we enter the new year, many repair shop owners are focused on setting growth and success goals; one challenge remains at the forefront: finding and retaining talent.
It’s an issue facing nearly everyone in the industry, which makes today’s guest, Stan Russell, the perfect person to kick off the year.
With decades of experience as a technician, educator, and mentor, Stan has made it his mission to develop solutions that benefit both shop owners and young technicians. His passion for cars has driven him to create impactful apprentice programs that teach essential skills, including business and financial literacy.
Join Matt DiFrancesco and Stan Russell, Director of Training and Apprentice Development at CollisionRight, as they share their insights on building strong teams, setting realistic goals, and shaping the future of the industry through mentorship and education.
Matt and Stan also talk about:
(03:17) What needs to change to attract young talent into the collision repair industry?
(04:49) Why teaching the business perspective is crucial for training young technicians
(07:39) An advice to help young people future-proof their careers in collision repair
(12:38) Why rapid technician training programs are setting up the industry for failure
(14:04) How can experienced technicians help secure the future of the industry
(15:53) The challenges educators face when running high school automotive programs
(19:57) Why a college degree is no longer the only path to career success
(22:56) Why is training the right person to run your business worth the investment?
(23:53) How can independent shop owners find and attract trained young talent?
Connect With Stan Russell
LinkedIn: https://www.linkedin.com/in/stan-russell-08246326/
Website: https://collisionright.com/
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
About the guest:
Stan Russell began his journey in the collision repair industry in 1984 as an apprentice technician after graduating from Lincoln County High School in Fayetteville, Tennessee. His entrepreneurial spirit soon led him to launch his own repair shop in 1989, marking the start of a dynamic and influential career.
One of his most groundbreaking contributions came in 2015 when he became the pilot instructor for the Service King Start Program. This innovative initiative, the first industry-funded collision repair program in the U.S., was based in high schools, introducing young people to the opportunities available in the trade.
In the fall of 2023, Stan joined CollisionRight, a regional MSO headquartered in Dublin, Ohio, where he now leads the design and implementation of their Right Start Apprentice Programs. His mission is clear: to make a lasting positive impact on the industry and the next generation.
Stan is passionate about highlighting the specialized nature and financial potential of careers in collision repair. He aims to shift perceptions—whether among young people or shop owners—about the lucrative and rewarding opportunities this industry offers.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome to this third and final installment of our educational series on structuring business for tax efficiencies. In the previous sessions, we covered the complexities of C Corporations, including their benefits, drawbacks, and scenarios where they might be appropriate.
In this episode, Matt and Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, focus on Buy-Sel Agreements highlighting their importance and addressing common misconceptions.
This topic is especially beneficial for business owners working with partners, employees, or family members who are shareholders as they learn a few practical strategies to help protect against unexpected events that could shake up ownership or create challenges for the business.
Matt and Stuart also talk about:
(01.29) Is succession planning the antithesis of a business owner’s strengths?
(02:03) What is the Monte Carlo Analysis?
(04:41) The question that will help you define your true business value
(12:45) Why should business owners have Buy-Sell Agreements?
(15:54) Why Stuart is a big proponent of always having a reverse offer
(22:55) The agreement that Stuart missed which led to 7 years of litigation
(29:51) Two types of insurance business owners must always consider
(31:14) The issue with third-party financing
(33:12) The one requirement to ensure growth and maximize the value of your business
(33:58) Why it is crucial to build a team to help plan for your business’s future
Connect With Stuart Sorkin
Website: https://businessandlegaladvisors.com/
Personal Website: https://stuartsorkin.com/
Phone: (301) 320-1152
Email: info@businessandlegaladvisors.com
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Schedule a call with Stuart: https://calendly.com/stuart-sorkin
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
About the guest:
Stuart H. Sorkin is the founder of Business and Legal Advisors, a firm that assists small and mid-size businesses with growth strategies.
With over 40 years of experience as an entrepreneur, CPA, and attorney, he specializes in business entity formation, mergers and acquisitions, tax and estate planning, and asset protection.
He co-authored Expensive Mistakes When Buying & Selling Companies…and How to Avoid Them in Your Deals and has been featured in publications like the Wall Street Journal and USA Today.
Stuart also serves on the Board of Trustees for the Jack R. Anderson Charitable Foundation. He holds a B.S.B.A. in Accounting and Finance, a law degree, and an LL.M. in taxation.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.
Welcome back to part two of our special three-part educational series, where we continue exploring how business owners can optimize their structures for long-term success.
While tax rates were covered in the previous episode, this conversation takes a closer look at other crucial factors that impact business owners, such as transfer strategies, control, and long-term financial planning.
In this session, Matt is again joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to dive deeper into the key differences between C Corps, S Corps, and LLCs. They also break down how the right entity structure can not only reduce tax liability but also provide shop owners with the flexibility to step back from day-to-day operations while ensuring future growth and stability.
Matt and Stuart also talk about:
(01.09) A big problem in raising investor capital with S-Corps
(03:08) What is a non-qualified deferred compensation plan?
(07:24) How strategic tax and equity planning can protect your business and key talent
(11:49) The role of a strong partnership agreement
(16:18) How to transition ownership while staying in control of the business
(21:13) Key considerations for different stock classes
(23:51) How employee agreements can protect your deal and boost valuation
(28:45) How to turn key employees into owners without breaking the bank
(31:42) How a holding company structure unlocks growth and employee equity
(33:11) Why your CPA or attorney may not recommend a C-Corp
Connect With Stuart Sorkin
Website: https://businessandlegaladvisors.com/
Personal Website: https://stuartsorkin.com/
Phone: (301) 320-1152
Email: info@businessandlegaladvisors.com
LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/
Schedule a call with Stuart: https://calendly.com/stuart-sorkin
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
Instagram: @high_lift_financial
Youtube: @highliftfinancial
About the guest:
Stuart Sorkin brings over 40 years of experience as an angel investor, entrepreneur, CPA, and attorney, specializing in assisting business owners with growth and exit strategies.
In 2018, he founded The Business and Legal Advisors, a consulting firm focused on the financial and legal protection of business owners, executives, and entrepreneurs.
He has expertise in areas such as business entity formation, mergers and acquisitions, tax planning, succession planning, and estate planning.
Stuart is the co-author of Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals and has spoken at various professional groups on exit strategies and asset protection.
He has been featured in top media outlets, including the Wall Street Journal and USA Today, for his insights on tax-related matters.
Disclaimer:
All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.
High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.