Son owns a bicycle store
www.cycles54.com. I go down to help, usually wrenching) about once a week. He employs about seven, most part time and some seasonal.
In business just over two years. Nice store, solid business plan, growing on schedule, even with the current economy. Goal this year is $1M in sales.
While he carries everything from beach cruisers (the store is one mile inland from the NJ shore) and kids' bikes on up, the store caters to mid to high end bike customers and competitors (racers and triathletes).
The "mom & pop" stores are really hurting. Some closing their doors as more of their customers head to Walmart to buy there. The more "educated" customers go to bike shops for even a basic bike, because of product quality, proper assembly and fit, and customer service, all for a few dollars more.
The mid to high end bike customers know what they want and this part of the market is still there, from bikes to clothing, equipment, and accessories.
He's OK for now.