In the early 1920s Hollywood, Adolph Zitz, who surrounds himself with yes men, wants his movie studio, Rainbow, to be the greatest in town by making a movie called the "World's Greatest Lover" and finding that next star to outshine Rudolph Valentino as the renowned screen lover of his time. Mild mannered and somewhat hapless Rudy Hickman dreams of being such a movie star, he daydreaming about it so much that he is unable to hold onto his bakery jobs. With his supportive but highly hysterical wife Annie Hickman by his side, Rudy, using the stage name Rudy Valentine, pulls up stakes from Milwaukee and heads to Hollywood to try out for that part. He ends up getting a screen test like the thousands of other hopefuls flooding Hollywood for the chance. Annie, who loves the movies herself but who is naive from not having had much exposure to the world, has ulterior motives for going to Hollywood. Both Annie's Hollywood mission and Valentino himself will affect what happens to Rudy in Hollywood.