Zack Homer takes over managing the barbershop after Joe is killed for trying to rip off his "investor", Mr. Lovejoy. All Zack wants to do is run a traditional barbershop giving traditional haircuts, but modern styles have passed him by and business is slow. One evening, Mr. Lovejoy shows up to offer Zack the same deal he gave to Joe. It could turn his business around, but what will he have to give in return?

Aspiring to an easy job as personal physician to a wealthy family, Noboru Yasumoto is disappointed when his first post after medical school takes him to a small country clinic under the gruff doctor Red Beard. Yasumoto rebels in numerous ways, but Red Beard proves a wise and patient teacher. He gradually introduces his student to the unglamorous side of the profession, ultimately assigning him to care for a prostitute rescued from a local brothel.

An inept barber maintains his good-humored optimism in his small town shop despite having a hen-pecking harridan for a wife and a total lack of sartorial skill.