Saving features for reuse

I frequently create paramtric features that I would like to reuse later. For example, I might create a bicycle wheel and want to reuse the features for defining spokes, sprockets, hubs, etc. The help file says that the way to do this is to create the feature in a sldprt file, then create a sldfp file by draggin the feature to the library.

I have tried doing that, but the result is useless. When I try to drag the feature from the library to a new part, I am confronted by a PropertyManager box that prompts for a "Sketch Segment" and a "Sketch Point", whatever that means. Also, a small diagram of the feature appears, but doesn't appear to do anything if I click on it. The dialog also shows a section called "Size Dimensions" but does not list anything that I want to change.

Does anybody know how this works? Is there some special setup that needs to be done before the feature is saved to the library?

SolidworksParts And Features