My DH and I are in the process of opening a shop and let me tell you, spend a lot of time on that business plan! A lot of small business go under because of a poor business plan. Either they don't create a good one or they don't follow it. It's extremely important to create a solid plan, one that is achievable.

I'm not sure how far along you are in your plan, but once you start putting $$ on your dreams, you'll quickly earn a whole new appreciation for your LBS. A lbs is NOT cheap in inventory, you need a decent amount of money to start with. You most likely will not be able to stock as much as what you initially plan.

Be sure you are not opening a bike shop just because you like to ride. You amount of time riding will drastically decrease because you'll be working 6-7 days a week, possibly 12 hours a day. You need to be a huge self starter, have a high drive for sales, ready to make a ton of sacrifices in your personal life for the business, also be prepared to failure. It sounds sad to say that, but you have to consider the ramifications if your business fails and decide if you're ready to accept that.

Here is a good site to read about starting a bike shop:

http://nbda.com/page.cfm?PageID=70