Mr Wilson said it was with disappointment Oamaru Cycle Works 1882 would close its doors on Sunday, but he did not have the confidence to carry on.
For four years, Mr Wilson has been teaching people to ride penny farthings, sharing the history of cycling and encouraging people to get on their bikes.
He said the Victorian Precinct had come a long way in 20 years, but much more could be done to offer visitors an experience like nothing else in New Zealand.
''Between 1989 and 2007, brands were agreed to and put in place around creating a living 'Victorian Town at Work' in the precinct and harbour area,'' he said.
Plans designed to strengthen all local businesses, create jobs, and help build the local economy included a horse-drawn carriage museum with rides, a working blacksmith, an old-time movie theatre, daily vintage train rides, colonial tradespeople at work, Victorian costumed guides, a maritime museum telling the stories of Captain Robert Falcon Scott and the frozen meat industry, traditional wooden sailing and rowing boats for hire at the Oamaru Harbour and live theatre.
''It was an exciting time,'' he said.
''If things had worked out well, there would be no cars, the street would look a million bucks.
''Disappointingly, none of this is now happening, which is why I have decided to close.''
However, Mr Wilson said he remained positive as the best days were ahead for the precinct.
''I just think that there needs to be a rebuilding of the partnerships for the area and I think the community needs to be re-enthused by the town's leaders,'' he said.
The last four years in business in the Precinct had been ''a great ride''.
''I've got so many happy memories. I've met so many people from all over the world. I've had a statue made of me - I'm quite chuffed about that. I'm totally inspired by the whole experience so far.''
His collection of bikes and historic items will go into storage while he focuses on his consultancy company, working with other historic towns.
''I've started working inland from Melbourne in the Victorian Goldfields,'' he said.
''Oamaru's my base. I'm staying here but I'm starting to commute.''
