P.T. Barnum and Charity knew each other from a very young age. They continued to write to each other and when they were old they got married and started a family.
Climax/Tightrope or Never Enough
After Barnum got laid off he started his own business. He opened up a wax museum, but after no profit he had to find another way to make money. He then went and found "freaks" and made Barnum's Circus.
Falling Action/From Now On
Barnum's show was starting to boom he got a Jennie Lind to come and sing to help his business grow. After Jennie's performance Barnum hosted a party for the rich people. Barnum was ashamed of the 'Freaks" and shut them out of the party.
Resolution/The Greatest Show
Since, Jennie's show was such a hit Barnum decides to go on tour with her. He leaves his family and his circus behind. While gone the circus burns to the ground and Charity leaves him after Jennie orchestrated Barnum kissing her.
After everything that happens Barnum realizes that he took his eyes off the real reason he started the circus and how caught up he was. Barnum realized that he messed up and knew he had to fix it not only for himself but for his family and circus family. But how was he going to fix it when he had no money or circus.
Carlyle tells Barnum how he can help and buys the circus. He buys some land down by the dock and buys a tent and the circus is reborn. At the end of everything that happens Barnum sees that he is getting to old to run the circus and hands off the circus to Carlyle.