Detectives believe the unknown offenders targeted the barbershop on Union Street in Brunswick about 4am on Monday.
The offenders can be seen in the footage throwing a fuel canister through the front window of Jewell Barber before tossing a cigarette lighter inside.
Detectives believe the pair only managed to burn themselves along with a small amount of accelerant outside the store, after failing to ignite the fuel inside the store.
They fled the scene after they were disturbed by a witness.
Police said the two offenders were last seen running through a garden bed and into a dark coloured SUV which sped off in an easterly direction on Little Gold Street.
