Worcester Business Journal

www.wbjournal.com June 22, 2015 • Worcester Business Journal 19 countrybank.com • 800.322.8233 Belchertown • Brimfield • Charlton • Leicester • Ludlow • Palmer • Paxton Ware • West Brookfield • Wilbraham Commercial Loans. For growth. To take your business to the next level, talk to our commercial lenders. They'll connect you with the right solution for your business. MEMBER FDIC MEMBER DIF Put the Power of VIDEO to work for your organization s WBJ VideoServices s A division of the Worcester Business Journal WBJ Video Services can help you deliver a powerful message. Contact Matt Volpini today at mvolpini@nebusinessmedia.com. dry cleaning," Domaleski said. He shares Lapels CEO Kevin Dubois' approach to management. Dubois co-authored a book for franchise business owners, Entrepreneurial Insanity in the Dry Cleaning Business, spelling out how to run a dry-cleaning business successfully from afar, which is important to franchisees who own multiple outlets. "When the right systems are in place, the owner can essentially manage the business from an iPhone," Dubois told Amazon, which sells the book. Dubois characterizes Domaleski as an intelligent entrepreneur with an ability to scale many different types of businesses. "He understands HR; financing is easy for him," Dubois says. "It's not often you find someone with the ability to roll up [their] sleeves and operate and be well-financed. He sees not only the present but sees next year and 10 years later." Domaleski confirms that. "We're not [positioned] to get in and out of something. We look at return and risk. … We're not necessarily looking to flip something in five years, long or short," he says. Objectives: an ROI of 25 percent over five years. The underlying risk is factored in, as well as how it fits into the portfolio of overall risk diversification. Then, there's geography, and whether the company can find partners to manage it. Mansfield sometimes chooses to partner with traditional banks for debt/ equity financing, buying a company for cash and then putting debt into the business to free up capital for other things — while still getting a 25 percent internal rate of return. Mansfield also owns several franchise outlets in Massachusetts and New Hampshire from J. D. Byrider, a "buy here, pay here" used car dealer with 167 locations nationwide. It's a tough business, complete with caustic Yelp reviews. But J. D. Byrider's own website c o n t a i n s p o s i t i v e testimonials, particularly from customers who say the company has helped them build or rebuild their credit history when they were denied everywhere else. J. D. Byrider passed its standard audit with the federal Consumer Financial Protection Bureau, "one of the reasons we went with them," says Domaleski. The Ghana gold-mining operation, run by subsidiary Mansfield Mining, is a partnership with California-based Minatura. In 2013, Mansfield Mining leased 55,000 acres in which to conduct environmentally-responsible mining of precious metals, without using mercury or drilling. The mined gold is then sold to wholesalers in Ghana at a discount, according to Mansfield's website. "We believe that [if an environmentally-oriented business] makes financial sense, if we can offer a better product or a better environmental service, we think it's a huge benefit," Domaleski says. n Thursdays July 9 & 16 8:00 pm Clark University, Razzo Hall 92 Downing Street, Worcester Featuring Schumann's Piano Quartet in Eb Major and Schubert's String Quartet "Death and the Maiden" Tickets Adults $32, Seniors $27, Camp Participant Families $15, Students $8, Youth under 17 free admission. Pre-concert talk at 7:30 pm Media sponsor: Reservations and info at: worcesterchambermusic.org or 508-217-4450. Worcester Chamber Music Society Our Passion. Our Community. THE TWO SCHUS SEASON 9 Richard Domaleski: "We're not [positioned] to get in and out of something. We look at return and risk."

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