Thanks. I'm quite pleased that you have brought this up as there can be misunderstandings on both sides of the issue. I've been in the position where as a customer I've thought "crikey, that sounds steep" and now I've been in the position of the LBS and know why prices can sometimes seem that way. I think the thread has been a good opportunity for people to put their particular side across and get an understanding of the other point of view.
There are lots of jobs on bikes that are very simple and I wonder why people don't do them themselves but I have to say I'm glad some people don't. For many people it is time saving so the question could be not how much is the LBS worth per hour but how much the customers time is worth per hour. Also there are some people who are just not mechanically minded and are completely happy like that. I can totally understand why some one would just want to have a bike and ride it to where they are going without having to know where to put the petrol. I'm the same with other things like electricity, plumbing and so on. No doubt there are plumbers who think "why don't people just learn some basics" but I haven't got the time. I'm too busy thinking about bikes.
I do try to educate people about basic bike care because I like bikes and want other people to like bikes too and get the most from them but as I say I'm not sorry that there are people out there who would rather get some one else to do it for them. With the job you have outlined I'd totally recommend you having a go yourself. There are lots of youtube vids (some better than others) that will give you a fair idea of what to do and there aren't any really specialist tools involved. Also if it goes tits up you can still just take it to the lbs to sort out.
Hi again Cyclopathic.
Really liking this response.
Also presuming you are Mr Pro Bike Fettler/Shop owner type dude.
Good to get your viewpoint from that side of things & maybe through this thread we all learn a little about the vagaries & differences of the industry.
I, for instance am one of those who would change a chain, tyre or even the cassette if I had a cassette tool (chain whip & cassette lock ring thingy) but would rather entrust a Pro for most other jobs - especially gearing adjustments & bar wrapping & wheel truing for example.
I factor in my hourly pay (I could be doing some o.t) + the shop guys price.
Now - where it all gets a bit 'interesting' is in the perceptions of value for people with very different circumstances.
For instance, a person who lives in an area with high unemployment & on low wages maybe £6 - 8 p/hr might view a charge of £30, 40 or £50 p/hr as scandalous, but, another living in an affluent area with a £100k plus salary might view this as peanuts.
Despite all of this I would still happily pay my bike tech/mech 3x my pay per hour but also like to have a rough outline of the final cost - even if they were to say to me "yeah, your looking at between £40 & £70 depending on x + y"
To this end it is pretty much why I asked the question in the o.p.
As a little cheecky number & to finish - if you ever get offered that 'team panasonic' Raleigh in nr mint condition & especially the 753 frame - please tip us all the wink - I would love one.