For the budding mechanic:  A good pocket sized repair guide.   One good option is the “Pocket Guide to Emergency Bicycle Repair”  by Ron Cordes and Eric Grove.   It’s only 3.5×4.5 inches and a half inch thick.   I don’t carry this myself, but for someone who’s new to this whole bike repair business, it’s really helpful to have. A future blog post will cover this book in detail.
Inside Student Union across from College Optical, the UCF Bike Repair Service is provided for students with bike problems. Students may come, free of charge, and have their bikes repaired with quality service by our Bike Repair Team. Service include: Inflate tires, change tubes, brake adjustments, tighten crankset, loose handlebars, adjust gears, and brake cable installation. Bikes can also be reserved here as part of the Bike Share program.

Be organized. “I like having everything be really small and super organized. I put all of my tools in CamelBak’s Tool Roll. It’s got little compartments, and I can separate tire changing stuff in one place, stuff like extra pedal cleats or an extra derailleur hanger in another, and it all rolls up into this tidy pouch. If I do have a repair, I can pull that one thing out and lay it out on the ground and it’s easy to work.”
If you’re going to use the chain whip you just made, you’ll also need a way to get that cassette off. A lockring remover is a must-have; unless you use one of the shady removal methods I’ve seen on the internet—which I wouldn’t necessarily recommend unless you don’t care much about the condition of the wheel after you use them. I recommend Park Tool’s iterations here that cost about $6, but you’ll need to buy the specific one for your brand/type of cassette. (By the way, I’m assuming you already have an adjustable wrench laying around somewhere to use with this tool. If you don’t, well, you’ll need one of those too.)
Good bike repair stand. I can't say "great," because it arrived with some small plastic pieces broken. These are small pieces that go between the legs and the supports for the legs to act as a sort of buffer to prevent metal to metal scraping. They are just too fragile, it seems. 3 out of 4 legs had these broken upon arrival. However, these are really only "nice" to haves, not need to haves, and they don't really detract from using the stand in any way. Once you have the stand set up, you don't worry about these at all. The main clamp holds the bike well, if you take care to balance the bike properly. The bike may tilt in the stand if you don't balance it - there is a weight limit to the clamp. I like the included tool tray, but I wish it was more adjustable in height (it is essentially fixed in one position). And the tray could be larger. Otherwise, I am quite happy with this stand. I have worked on several bikes using it, and assembled one out of the box. It makes the job of doing things like adjusting brakes and indexing derailleurs so much easier. The price of this stand is excellent considering the quality.
We spoke to a broad spectrum of cyclists—from a pro racer to a bike messenger turned mechanic to a touring cyclist who has logged thousands of miles throughout Europe—to find out what items they find indispensable. We sorted through 40 tire levers, almost 30 different kinds of patches, 120 different hand pumps, and 57 seat bags before we narrowed our choices for testing. And then we changed and patched tires more than 50 times, using four different bikes, five different wheels, six different tires, and almost 10 different sizes of tubes. After 96 hours of combined testing, we agree these essentials are some of the best you can buy.
Friction gear systems are a lot simpler to adjust, because the movement of the derailer cable can be modulated as you ride, every time you change the gear- they require less cycle maintenance. Modern index shifting systems are a little more complicated because each ‘click’ must release the exact right amount of cable to allow the derailer to move the correct distance to move the chain from one gear to another. Setting up and adjusting a derailer is not difficult and requires only basic tools, but there is a methodical procedure to follow.