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Richie is confused as he sees a guy taking down the "Herb's Auto Repairs" sign with the intention of replacing it with a "Bronko's Auto Repairing" sign. Herb is planning on retiring and selling the shop. Fonzie doesn't like Berkeley Van Alden, the prospective new owner, from the time he meets him. Berkeley gives Richie a dollar out of the blue and says he is very rich. He wants Fonzie to be his head mechanic who will, also, organize the shop and keep it clean. Also, his mechanics will have new, vinyl uniforms. "Bronko" Van Alden gives Richie another dollar, but he doesn't want it and gives back the first dollar. Ralph asks if he can have it, and Bronko gives both dollars to him. Ralph, also, asks Bronko if he can have his Ferrari. Bronko tells Fonzie that short hair is neater and gives him a dollar for a crewcut. He gives Ralph another dollar. Fonzie quits because he doesn't work for creeps. Richie and Ralph say that Fonzie should buy the shop from Herb, but he doesn't have the money.

Phil Hunsberger, a loan officer and Howard's fellow Leopard Lodge member, comes over to the Cunningham house to talk about a $10,000 business loan for Fonzie. Hunsberger asks Fonzie some questions about the loan, and it turns out that he has no prior business experience and no collateral. Fonzie goes out to other garages looking for a new job. He comes to the Cunningham's for dinner with his hair uncombed. After not being able to find another job as a head mechanic, Fonzie says he's selling his toolbox. Howard tells Fonzie a story about him wanting to start his own restaurant. Instead, one day, his toilet overflowed. As he walked into a hardware store to buy a plunger, he knew hardware was his calling. Fonzie says he wants to go in the hardware business with Howard but decides against it when Howard tells him the store sometimes goes months without seeing a female customer.

Fonzie gets a job selling encyclopedias door-to-door, and Richie goes along with him. He is unsuccessful at the first three doors and meets an attractive woman at the fourth. He gives the woman the books and tells Richie he'll find something else to sell the next day. He tries his hand at selling ice cream in a truck but quits that, as well. Richie tells Bronko about a phony offer Fonzie received from Dirty Bernie that included a $50-a-week raise. Fonzie tells Bronko about his requirements for the job and is rehired as the head mechanic. Bronko and Charles, the man who replaced Fonzie, leave the shop, and Richie and Fonzie follow. Richie, Potsie, and Ralph take encyclopedias over to the woman's apartment before Fonzie comes and kicks them out.

Songs in this episode:
"Earth Angel" (instrumental) by The Penguins (1954)
"Splish Splash" by Bobby Darin (1958)