In the living room, Carl is watching a TV show starring his favorite superhero, El Falcon, fighting his three villains: El Dragon, La Cobra and La Tortuga. While trying to mimic one of the stunts in the show, Carl falls on top of Bobby, where he tells him that he has a surprise for Carl. When Carl says he's watching El Falcon, Bobby tells him that instead of watching him, he can meet him in person, as he's holding a signing at a bookstore. Carl is awestruck that he's meeting his idol in person, and when he gets to the front of the line, Carl proceeds to ask the superhero to sign some of his memorabilia and numerous questions about his actions in the show. However, Carl asks so many questions, El Falcon breaks his character to tell the kid that he's just an actor and that El Falcon is not real. This causes Carl to faint, and Bobby to lash out at the actor.
Later, Carl is promptly throwing away everything El Falcon themed in his room, now calling him nothing but a fraud. As the family sadly watches him throw away one of his biggest passions, Bobby feels responsible for this change in attitude, and says that he knows how to fix it. He suggests that he dress up as El Falcon, but when Ronnie Anne comments that El Falcon has powers and Bobby doesn't, he says that in order to fix that, he needs the family's help, to which they agree.
As Carl proceeds to dump his El Falcon merch into the garbage, Bobby, dressed as El Falcon arrives. When Carl sarcastically greets him by calling him a fake, Bobby tries to convince Carl that the El Falcon he saw earlier was an imposter. At that moment, Bobby gets a call from "Commissioner Gordo" (Hector) saying that the mercado is being robbed by El Dragon. Arriving to the mercado, they see "El Dragon" (Carlos) robbing the mercado. After making Bobby fall over, he attempts to escape, but Bobby uses his "falcon freeze" to freeze everyone in place. When Carl attempts to see if everyone's faking it, Bobby proceeds to toss "El Dragon" out the store. When Carl is still not convinced that he's real, Bobby proceeds to show him the "Falconmobile" (actually the mercado van with decorations). At that moment, "La Cobra" (Carlota) arrives and prepares to steal the "Falconmobile", but Bobby tells her that he has control of the vehicle from his phone and promptly presses the eject button to throw her out, impressing Carl. As Carl slowly begins to trust "El Falcon" again, he gets a call from "Commissioner Gordo" that El Dragon, La Cobra and La Tortuga have joined forces. Suddenly, Carl is kidnapped by "La Tortuga" (Rosa), and she commands "El Dragon" and "La Cobra" to attack. After a brief fight, Bobby successfully subdues the three "crooks", causing Carl to fully believe in "El Falcon" again.
As the family celebrates that Carl is back to normal, a burglar pops from behind the counter to hold them hostage. This causes Hector to cry out for help, and Bobby and Carl proceed to check out the situation. Bobby, initially thinking this is an act, slowly discovers that the burglar is real. The burglar quickly makes an escape by stealing the van, and after Bobby tells Carl he left his phone in the vehicle, proceeds to use his grappling hook to latch onto the vehicle. The burglar tries to shake Bobby off, but is unsuccessful in doing so. At the comic store, as the El Falcon actor has a call with his mother, lamenting that he's not a hero because he acts like one, the van suddenly passes and upon seeing Bobby hanging for deal life, the actor proceeds to help him out. During the chase, the burglar discovers that he's about to crash headfirst into a semi-truck, and halts to a stop. This causes Bobby to crash onto a billboard (where his mask falls off), and land on the van, where he successfully obtains his phone and activates the eject button, flinging the burglar into a dumpster, where he's immediately surrounded by cops who were looking for him.
Carl catches up, and discovers to his surprised that El Falcon was Bobby all along. Realizing he's been duped this whole time, Bobby apologizes, saying that he wanted to make him believe again. As a heartbroken Carl tells Bobby to take off his costume, the billboard Bobby crashed into moments ago begins to fall onto them. As the two embrace themselves for impact, El Falcon arrives and successfully shoves the two out of the way. When Carl expresses disgust that he's back, El Falcon proceeds to show him he's real by actually flying to put the billboard back up. Amazed by this sight, El Falcon tells Carl that because of his dedication, he decides to make him his sidekick. As Carl excitedly goes to tell his parents about this news, El Falcon reveals to Bobby that he was just using a jetpack to fly. El Falcon also reveals that he overheard Bobby's intentions and says that he now feels reinvigorated by his role as El Falcon. After telling Bobby that he's the real hero for his good intentions, El Falcon flies back to the comic store, and Bobby, admired by his words, declares "Time to fly!" However, when he uses his grappling hook, he catches the billboard, causing it to fall on top of him, and weakly remarking "Time to cry."
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