Mickey opens up his own bicycle shop, but days pass and no one comes to the shop. One day, a man finally comes, saying he needs new brakes on his bicycle before the bicycle race that he's taking part in tomorrow morning. Mickey agrees, in spite of the limited amount of time he has to do it, though he first has to buy some parts. However, he becomes so tired while trying to fix the customer's bike that he falls asleep before finishing the job.
When Mickey wakes up the next morning, to his surprise, he finds that the bike has been fully fixed while he was asleep, and Mortie and Ferdie joke that maybe it was elves who did it. The customer is so pleased with how well his bike was fixed that he spreads word about Mickey's bike shop to the other bike riders, and they all come to Mickey's shop, asking him to fix up their bikes for the next race. He again falls asleep while working on the bikes, but this time, he briefly opens his eyes to see that Morty and Ferdie are fixing the bikes.
Afterward, Mickey's shop starts doing great business as a result of the bike riders spreading the word about the shop. Sometime later, Mickey tells Morty and Ferdie that he's planning to "reward those elves who keep helping us out." After he sends his nephews to bed, he wraps up two bikes that they had wanted to ride right after he opened the shop, and then pretends to fall asleep. Morty and Ferdie come in and find the bikes that Mickey has presented them with, along with a note thanking them for helping keep the shop in business.