Toast-It From Shark Tank: 4 Things You Didn't Know

While a warm, toasty treat can be a satisfying way to start the day, Toast-It stepped into the heat of "Shark Tank" Season 15. During episode 1503, the Miami-based sister pair pitched their Venezuelan food idea to the sharks, who included Mark Cuban, Lori Greiner, Daymon John, Daniel Lubetzy, and Kevin O'Leary.

Founded in 2019, Toast-It is a Latin food company that combines better-for-you ingredients with easy-to-serve and consume products. Sisters Maria Fernanda Römer Cabezas and Maria Corina Cabezas wanted to create the authentic Venezuelan flavors they remembered their mom making. Without a viable packaged option on the shelf, the pair went into the process of creating their food company.

Over a period of several years, the sisters grew a small, self-funded concept into a thriving business. They were able to turn Toast-It from a side hustle into a full-time job. According to the brand's LinkedIn page, they are privately funded with fewer than 10 employees.

Currently, the brand has three types of arepas, original, cassava, and chia flaxseed. In addition, Toast-It sells pandebono bites and plantain bunuelos. Its products can be purchased online and are sold at select retailers including Publix and Walmart.

Turning a concept into a successful business cannot happen on a whim or a prayer. In 2021, Toast-It posted its mission statement on Instagram. Although the social media post sought to manifest the brand's success, the principles are still core to the founder's business.

Specifically, the brand wants to become the leading healthy South American food brand in the U.S. As a small, independent brand, that statement is a lofty goal. Still, the craving for more global flavors gives the company an opportunity to grow.

Building on that idea, Toast-it wants to use its company to educate consumers not only about their Venezuelan products but also their culture. A better understanding of how and why arepas find their way to the table can entice people to swap a bagel or toast for this South American food.

Lastly, the company seeks to improve consumers' lives by offering a quality product. According to its website, the food offerings are gluten-free, nut-free, preservative-free, and contain no added sugars. The ingredients might be simple, but the flavors deliver that authentic flavor that people want. As used in one of its taglines, the "carino" (care) used in creating these products can be felt and tasted in every bite.

As many people can appreciate, a particular childhood food can be that bite that comforts, feels familiar, and satisfies in a particular way. When sisters Maria Fernanda Romer Cabezas and Maria Corina Cabezas decided to create Toast-It, the concept was born out of both necessity, craving, and entrepreneurial drive. For several years, the pair cooked arepas in their kitchen and drove them to stores around Miami. The side hustle eventually grew, and they were able to turn Toast-It into their full-time job.

Although success is never a guarantee, Maria Fernanda Romer Cabezas has a background in the food and beverage industry as well as financial analyst experience. The combination helps her to understand, apply, and leverage Toast-It's business decisions to allow the brand to grow and secure its success within a tough industry.

While family businesses can require careful planning and conscious division of labor, it appears that the two sisters are willing and able to put in the effort to secure the brand's success. Given its growth over its short life, it is impressive. From a small delivery business to hundreds of stores and an appearance on "Shark Tank," Toast-It and its founders seem to be heating up a crave-able conversation on South American food.

Turning a concept into a profitable food brand is more than a wish and a prayer. For Toast-It, earning a golden ticket from the Walmart Open Call competition was a huge stamp of approval for the South American, family-run food business.

Walmart Open Call is a program where small and medium U.S. manufacturing businesses can get prime selling space on store shelves or online. Over the past 10 years, Walmart has presented 9,000 companies with this opportunity. One aspect of this program is the Local Snacks Initiative which puts locally made snacks on store shelves. Toast-It was featured in many Walmart stores, including South Florida, where the brand is based.

Although the Walmart program gives brands shelf space, it is not a success guarantee. But, maximizing this opportunity could have opened the door to the "Shark Tank" pitch. Proving that they could amplify production for a larger rollout can be a key factor in getting a Shark to bite. If the brand can learn to leverage this feather in the cap, their potential for Shark Tank success is heightened.

While "Encanto" might have brought arepas to a whole new audience, Toast-It's arepas bring a flavor of their founder's childhood to the table. Made with just minimal ingredients, consumers have fallen in love with the simple, easy-to-cook and flavorful offering.

As seen on the brand's website, consumers appreciate how the arepas are the perfect shape and size to ensure a crispy texture when toasted. In addition, the flavor is adaptable to sweet and savory. From a dollop of jam at breakfast to pulled pork for dinner, there is an application any and every meal.

The brand's Instagram account has a plethora of recipe ideas. From a simple stuffed cheese option to beef, pork, and many other choices. Overall, Toast-It shows that the arepa can be an easy swap for a toast, tortilla, or bagel. Once cooks get that first taste and see how the flavor blends with their favorite toppings, it could inspire more creativity in the kitchen.

One item of note, the arepas do need to be toasted. Even though it is a slight prep, it is far easier than making that dish from scratch. Whether it is the person who wants to try something new, prefers a gluten-free option, or just loves the South American food, Toast-It has an audience and it seems that it is ready to keep growing.

When Toast-It brought its arepas business to "Shark Tank," founders Maria Fernanda Romer Cabezas and Maria Corina Cabezas (who now go by Mafe Romer and Coco Cabezas), hoped that the Season 15 episode would be successful. Although Sharks Mark Cuban, Lori Greiner, and Daymond John would personally buy the food concept, they concluded that it was not the right investment for their portfolio. Kevin O'Leary aka Mr. Wonderful appreciated that the arepas did not spike his glucose, and he offered $100,000 for 20% equity. But, guest judge, Daniel Lubetzky, founder of KIND Snacks, countered with a more tempting proposal. After some back and forth, Toast-It chose Lubetzky and his offer of $150,000 and 20% equity.

Speaking to BizWomen, Cabezas commented that Lubetzky was always their top choice once they knew he was a guest judge. His knowledge of the Hispanic market as well as overall industry experience made him a good fit for their brand. Lubetzky explains that appreciated the concept behind the premade arepas. "I love discovering companies like Toast-It that have mastered the formula for bringing beloved Hispanic staples to mainstream consumers in a format that is delicious and convenient," he told the publication.

Currently, Toast-It is targeting markets with a substantial Hispanic demographic. While the brand began with regions close to its base, the Northeast and Texas are now a primary expansion focus. Whether or not these arepas become the next tacos remains to be seen, but the company is ready to take advantage of the opportunity.