We've got a six truly local bike shops, and they are all excellent at what they do. We also have a local chain that has three storefronts, down from four a year ago; it is a truly horrible business, but they are the local trek dealer, so they stay in business. Then we have four out-of-town chain stores (REI, Performance, Hutch's and it's little brother). For chains, they aren't half-bad. Other than that, we have a couple of well-known frame manufacturing outfits (Co-Motion, Bike Friday) and Rolf Prima Wheels.
I regularly see the owner of one of the local shops out riding in the morning and the owner of another always rides his bike to/from work. The manager of the Hutch's chain store is also often to be found out on his bike. Before he sold his half of the business to his brother, I used to occasionally see the half-owner of Bike Friday riding to/from work. To me, that's an important part of being a local bike shop owner: riding locally.