When Bob's eccentric landlord, Mr. Fischoeder (guest voice Kline), pays the family a visit, he informs Bob that his rival across the street, Jimmy Pesto of Jimmy Pesto's Pizzeria, wants to take over Bob's lease so that he can expand his gift shop. With little time and not enough money, the Belcher family must cook up some business or luck to save the restaurant.

After the town's annual Lobsterfest is cancelled by a storm, Bob defiantly opens his doors for a festive celebration. When he wakes the next morning, Bob finds the restaurant in disarray and that the town has spurned him, but Bob won't let that deter him from further involvement in the celebratory weekend.