In this episode of the Collision Vision driven by Auto Body News, Cole Strandberg and Joe Hall talk about attracting outside investors to your body shop. This episode is sponsored by U.S. Autocure, the leader in gas-catalytic infrared curing systems.

Cole Strandberg: Alright, I’m excited to introduce today’s guest, Joe Hall. Joe comes from a unique background that’s led him into the collision repair industry, and he’s here to talk about search funds, the impact of the “silver tsunami,” his plans for growth, and some fresh perspectives on collision operations from an outsider’s lens. Joe, welcome to The Collision Vision!

Joe Hall: Thanks, Cole! I’m thrilled to be here and chat about this industry—it’s been an interesting journey so far.

Cole Strandberg: Let’s start with your background. You didn’t grow up in collision repair, right? How did you end up here?

Joe Hall: No, not at all. I actually come from more of a finance and entrepreneurship background. I went to business school, got my MBA, and spent some time working in private equity and consulting. I was always drawn to the idea of owning and growing a business, but I didn’t have a specific industry in mind. That’s where search funds came in—they’re this model where you raise capital from investors to go find and acquire a small-to-medium-sized business, then run it and grow it. I stumbled across the collision industry while researching stable, fragmented sectors with growth potential. It checked all the boxes, and here I am!

Cole Strandberg: That’s fascinating. For those who might not know, can you break down what a search fund is and how it works?

Joe Hall: Sure. A search fund is basically a pool of money raised from investors—usually high-net-worth individuals or small funds—who back an entrepreneur like me to go find a business to buy. The idea is that I spend a year or two searching for the right company, acquire it with that capital, and then step in as the CEO to operate and grow it. The investors get a return through the business’s success, and I get the chance to run my own show. It’s a win-win if you pick the right business and execute well.

Cole Strandberg: And you picked collision repair. What drew you to this space specifically?

Joe Hall: A few things. First, it’s a recession-resistant industry—cars get damaged no matter what the economy’s doing. Second, it’s super fragmented, with tons of small, family-owned shops, which means there’s opportunity to consolidate and professionalize. And third, there’s this massive trend called the “silver tsunami” that’s hitting right now, which I think is a game-changer.

Cole Strandberg: Let’s unpack that. What’s the “silver tsunami,” and how does it tie into collision?

Joe Hall: The “silver tsunami” is the wave of baby boomers retiring and exiting their businesses. In collision repair, a huge chunk of shop owners are in that 55-to-70 age range. A lot of them built these businesses from the ground up over decades, but many don’t have succession plans—either their kids aren’t interested, or they haven’t groomed a buyer internally. That creates a flood of shops hitting the market, and it’s a perfect opportunity for someone like me with a search fund to step in, acquire them, and take them to the next level.

Cole Strandberg: That makes a lot of sense. I’ve heard estimates that something like 50% of shops could change hands in the next decade because of this. How do you see that impacting the industry?

Joe Hall: It’s going to shake things up big time. You’ll see more consolidation—bigger players like MSOs [multi-shop operators] or even private equity-backed groups snapping up these shops. But it’s also an opportunity for new blood to come in, like me, and bring fresh ideas. The challenge is that a lot of these shops are still running on old-school methods—paper invoices, minimal tech, no real marketing. There’s huge potential to modernize and scale them, but it’s not without risks.

Cole Strandberg: Speaking of scaling, what’s your vision for growth once you acquire a shop?

Joe Hall: My plan is to start with one solid shop—say, a $2–5 million revenue operation—and use it as a platform. From there, I’d focus on three things: operational efficiency, technology adoption, and add-on acquisitions. Efficiency means tightening up processes—better cycle times, leaner workflows. Tech is huge—like bringing in estimating software or ADAS calibration tools to stay ahead of the curve. And then, once that base is humming, I’d look to buy smaller shops in the region, fold them into the operation, and build a regional network. The goal is steady, profitable growth, not just getting big for the sake of it.

Cole Strandberg: That sounds like a playbook a lot of MSOs use, but you’re doing it from a fresh start. What’s unique about your approach as an outsider?

Joe Hall: Good question. I think coming from outside gives me a bit of a blank slate. I’m not tied to the way things have always been done. For example, I see a lot of shops underinvesting in marketing—relying on insurance DRPs [direct repair programs] or word of mouth. I’d approach it more like a consumer business: build a brand, use digital marketing, target fleet accounts or even EV owners specifically. Another thing is data—I’m obsessed with it. Most shops don’t track KPIs [key performance indicators] like they could. I’d be all over metrics like CSI [customer satisfaction index], repair margins, or tech productivity to drive decisions.

Cole Strandberg: That’s a really interesting angle. Collision’s often been slow to adopt that kind of data-driven mindset. Have you run into any pushback from industry folks on these ideas?

Joe Hall: Oh, for sure. There’s a healthy skepticism about outsiders—people saying, “You don’t know how tough it is to deal with insurers,” or “Techs won’t use fancy software.” And they’re not wrong—it’s a gritty business. But I think the resistance is more about habit than impossibility. Once you show results—say, a 20% bump in throughput from better scheduling—people start to come around.

Cole Strandberg: Let’s pivot to our sponsor for a sec. This episode is brought to you by U.S. Autocure, makers of advanced infrared curing systems. Joe, any thoughts on how tech like that fits into your vision?

Joe Hall: Absolutely. Infrared curing’s a perfect example of low-hanging fruit. It speeds up paint drying, which cuts cycle time—a huge bottleneck for most shops. Plus, with EVs [electric vehicles] on the rise, you’ve got to be careful with heat around batteries, and U.S. Autocure’s systems are designed for that. It’s the kind of investment that pays off fast and fits my push for efficiency.

Cole Strandberg: Couldn’t agree more. Alright, Joe, last question: what’s one piece of advice you’d give a shop owner thinking about selling to someone like you?

Joe Hall: Get your house in order before you sell. Clean up your financials—make sure your books are tight, not just a shoebox of receipts. Know your numbers: revenue, margins, customer retention. The better you can show your shop’s value, the better deal you’ll get. And don’t be afraid of the future—selling to someone like me isn’t the end; it’s a chance for your legacy to grow in a new way.

Cole Strandberg: Great advice. Joe Hall, thanks so much for joining us today. It’s been awesome hearing your perspective.

Joe Hall: My pleasure, Cole. Thanks for having me!