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I think this is a great idea! I'd probably work on my bike at home but it's still a great place to hang out and meet people/gain knowledge. I think you should do both half hourly/hourly and a monthly membership. It's not always easy for people to immediately want to sign up and pay every month but if they get used to the idea after a few tries they may be willing to buy in. Give away an hour of free work time for birthdays after getting people on a mailing list to spread word of mouth and good will. Cheap parts would also be a plus. I think $15 for a half hour and $25 for an hour is fair.
Keep in mind tools WILL be taken, unfortunately.
Bike nights would be an awesome idea as well as maybe workshops with mechanics teaching people how to change tires or clean valves or something. Good luck and keep us posted I'd love to go by and check it out if this comes to fruition!
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