Charles Price may have grown up with his father in the family shoe business in Northampton, central England, but he never thought that he would take his father's place. Charles has a chance encounter with the flamboyant drag queen cabaret singer Lola and everything changes.

Elizabeth Rimplegar inhabits a household populated by virtual lunatics. Her mother, Nellie, mishandled the family fortune, and, alas, the stock market crash has depleted their worth. Elizabeth's goofy brothers cannot easily adjust to the life of the average worker. Meanwhile, the family doctor has his eye on Elizabeth, but he will have to compete with her suitor, an ill-informed writer.

A successful shoe manufacturer named John Reeves goes on vacation and meets the grown children of his recently deceased and much-respected competitor; they're on the verge of losing the family legacy through their careless behavior. Reeves takes it upon himself to save his rival's company by teaching the heirs a lesson in business.