[AfricanBootyScratcher]

very cool eric, I'll have to come visit you
as for thoughts on it, your right in not going too nuts at first.
No need to stock tons of inventory, but do set up accounts.
Be careful to not try and be everyone's "best friend" we all need to make a living, but thanks to discount shopping throught the internet retail has become a four letter word. And people forget that a "fair" price goes both ways. You don't have to beat every discount price out there (some stuff online is miraculously below dealer's cost somehow) but make up for it with customer service, which includes but not limmited to tech advice on what's being purchased, a good return policy, and product support. For most rational people, good service is worth the extra $5 or whatever over joeshmoediscountparts.com
Yes $75 per hour is a CHEAP labor rate, in our area at least, out in the midwest I have seen as cheap as $45 but around here they seem to be between $85 to $115. Back when I had my shop people would come in asking us to disount our labor rate ($65/hr at a high end mobile electronics shop years ago, I thought it was very fair) so I would ask them what they would tell thier boss f they went to work and he asked them if he could cut their sallary for the day. Get my drift. Every body wants something for nothing, and will always "just for me, just this once, yada yada yada", you gotta stand by whatever your shop rate will be. I do agree that charging 3 hours for a 15 min job is wrong, and yes a lot of places charge book time no matter what the actual time is, and though it sometimes works in the customers favor, more often it doesn't. so be fair and watch the clock. That also doesn't mean dilly dally and take forever, just to make more. Hell when we were quiet at my old shop, and the customer wasn't waiting I have taken my sweet time to do an install, but would still charge what it should have taken, not what what it took with bsing and cigarette brakes added in, even if I took two hours, I would charge only the half hour I know it would have taken had I been busy. remember be fair.
Some stuff, like tire changes, you can have at a set flat rate.
The bike storage is a great idea, do that with a winterizing package. Bring in the bike, and do an oil change, stabilize the gas, put the battery on a tender, and give the bike a go over, then before it's picked up you change the oil again and detail it. All for one package price. If anything is found needing maintenance when you go over it, you charge extra accordingly.
A pick up/drop off service for people who can't get thier bike to you to be worked on is a nice touch. Or give people a ride home when they drop off the bike and they can't wait or it's a long/multiple day job. Put up a map, and make zones radiating out from the shop. Zone one (very close, or between home and the shop) could be free, out a little farther have set at a flat rate say $25, even farther another like $50, and so forth.
Remember to always stand by your work, and offer a warranty on labor. Gives customers good piece of mind.
"frequent flyer" programs seem to work very well to help generate customer loyalty. Give out coupons when work is done, then they can use those for a discount, like maybe after 5 oil changes, the sixth is free. Or when you spend $x you get a coupon for 10% off your next purchase.
That's all I can think of for now, I'll let you know if other thoughts pop up.