A few scattered comments...
While I agree with much that has been said already, because you only stated what your high end bikes are worth in each category, I would urge you to concentrate more on the moderate level equipment. You might make a killing selling a $2,000 bike compared to a $700 bike, but if you sell three at $700 and the accessories that go with each of them, then you will be doing very well.
Be honest, or at least appear honest. When the only difference between the $1000 bike and the $2000 bike is 2 pounds of weight, then tell them... If a person has a set budget, and feels that they need to save more in order to make a good investment, you have lost an immediate sale, and there is a chance that they won't buy, or will buy elsewhere.
I bought a Brooks saddle at my LBS, and even though they didn't remember my name, the next time I went in they asked how the Brooks was working out. If all you can remember is what was purchased, you can still make it seem personal, and show that you pay attention to your customers. (I am terrible with names, so I think this is a good alternative to remembering names if you have a similar problem).
I would also underscore an earlier comment. Keep older components on hand. Many of us do just fine on 10 or 12 speed bikes, and have no interest in replacing our whole drive train instead of replacing a single component.
My LBS also discounts, even though they are a small shop. I could still buy some things cheaper online, but their prices are close enough that I don't usually bother.
Don't assume that everyone wants what is hot this week/month/year... variety is a key! I know it is expensive to tie up your inventory with stuff that doesn't sell quickly, but I do like variety when I look around. THis however is not as important as the personal service.
I went into another LBS, and it was obvious that they were there to sell bikes, and not the few other things that occupied a total of about 20 feet of wall space. I spend almost as much on the other stuff as I do on bikes, so if I am typical, I think an LBS should recognize that. In fact, I suspect the shops that make you walk past all of the other stuff to get to the bikes work with me, so put the impulse buy stuff where it does the most good. If people go to a bike shop, they know you have bikes, emphasize the other things by placing them apppropriately.
Keep your service area visible, so that people know you will service their bikes as well. Unless you see the repair side of the business as only a pesky necessity, you should show it off.
If you don't have something, offer to order it quickly. I asked a simple question about a repair stand recommendation, and the owner had a catalog open...
I asked about routes to cycle in the area, since I am new, and was immediately told about some good routes, and which areas to avoid due to safety concerns due to traffic speed and road conditions.
The bottom line is that you won't be able to sell at the prices of an online mega-store, but do sell for a little below retail. Also, be sure to add the thing that online can never provide, and that is the personal touch.
