If you break down their costs, I am sure you will see a fair but not excessive profit.
When you glance at a price tag it’s easy to assume WTF, but when considered the true costs….
Vat?
Rent
Tooling
Tutors
Insurance
Advertising
Accounts
Electricity etc
…. It’s all probably quite reasonable.
£400 to learn new skills, set you off in a new hobby, keep yourself out of trouble for two days, and then have a kids bike that might get passed down for generations. Seems ok to me. Alternatively you could almost get a king hub, or two inbred frames, or 4 bikes from halfords.
I also just simply like businesses like this, nice guys, with a passion they want to share.