Goshen, N.Y. - VAC Service Corp. founder Jim Tucker is planning a return to the extended service plan and warranty industry he helped shape in the 1980s.
"I've followed the service industry closely for the past five years, and there is still significant opportunity for the right company with the right philosophy," he said.
Tucker said his new venture is in the early stages of launching, and that more details about the business would be forthcoming in the near future.
He began his warranty career in the automotive industry, where he helped develop Ford Motor Company's 12-12 power train warranty, and founded VAC, or Video Aid Corp., in 1980 after learning that service plans were unavailable for VCRs, which retailed for over $1,000 at the time.
Tucker sold VAC to Bankers Warranty Group in 2005 and timed his return to the industry to the expiration of a non-compete clause.