Calvin Palmer inherits a struggling barbershop on the south side of Chicago from his late father. Initially viewing the barbershop as a financial burden, Calvin considers selling it to a greedy loan shark, Lester Wallace. As he spends more time in the shop, Calvin realizes its cultural and social importance to the community. The barbershop serves as a local forum where customers and barbers share stories, jokes, and opinions, creating a sense of camaraderie and belonging.

Calvin's employees and regular customers each bring their own unique flair to the shop's atmosphere. Eddie, the elderly barber, serves as the shop's wisecracking historian. Terri, the only female barber, struggles with relationship problems. Ricky, an ex-convict, is determined to turn his life around despite the odds stacked against him. As a looming financial crisis threatens the shop, Calvin gradually comes to appreciate its role in the neighborhood and reconsiders his decision. Through various interactions with the eclectic group of characters that frequent the barbershop, Calvin discovers the true value of community and heritage.