In the comedy, which has already begun production, Bacon will play Jorge, a flamboyant owner of a hair salon who becomes the nemesis of a former employee (played by Queen Latifah) after she quits working for him and starts up her own competing beauty shop in Atlanta.
The Latifah character, Gina, appears in Barbershop 2: Back in Business which MGM released in February. Beauty Shop is skedded to bow Nov. 24.
Mena Suvari, Alicia Silverstone, Djimon Hounsou and Lil' JJ round out the cast of the spinoff.
"Honey" helmer Billie Woodruff is directing the laffer from a script by Kate Lanier and Norm Vance.
Bacon will next appear in "The Woodsman," which Newmarket picked up at the Sundance Film Festival. No release date has yet been set. Bacon most recently helmed his second film, "Loverboy," an indie which he produced and stars in alongside wife Kyra Sedgwick, Sandra Bullock, Campbell Scott, Matt Dillon, Marisa Tomei and Oliver Platt.