The Bike Rack is one of the few options for bikes, supplies, and repairs available to people in Ithaca, especially students living in the Collegetown area. For those who like to ride their bikes to class, the store is a good safety in case you need emergency repair or parts. The store usually has an experienced mechanic on hand who can fix almost any problems.
While I would necessarily advise buying a bicycle there as you can probably get a cheaper one elsewhere, this is a good, dependable store to purchase accessories or to fix your bicycle if it gets damaged or something breaks.
It is conveniently located in Collegetown so it is very close for most students. If your bike was in an accident and can't be ridden, you can just walk it down to the store instead of having to find a ride and drive somewhere in order to get it fixed.
Overall, this is a good store, but I would advise using it only for certain purposes.