Entering the high-pressure world of Shark Tank, TOAST-IT, an innovative culinary brand, caught the attention of viewers and sharks alike. Founded by Venezuelan sisters Mafe and Coco Cabezas, TOAST-IT presented a vision of bringing the convenience of ready-to-eat Latin American arepas to the masses. Their appearance on the platform not only showcased the product but also highlighted the entrepreneurs’ passion for their cultural heritage and business acumen.
TOAST-IT’s product features represent a blend of tradition and modernity, with arepas forming the cornerstone of their product line. These arepas are not only easy to prepare, often ready in a matter of minutes, but also cater to health-conscious consumers with their low-calorie content and absence of trans fats. The enthusiastic pitch of Mafe and Coco Cabezas demonstrated their commitment to making Latin American cuisine accessible, while emphasizing eco-friendly and sustainable business practices that resonate with contemporary consumer values.
Key Takeaways
- TOAST-IT captivated Shark Tank’s audience with ready-to-eat arepas.
- Venezuelan sisters demonstrated a strong cultural connection to their product.
- Emphasized the combination of fast preparation and healthful eating.
Shark Tank Appearance
https://www.youtube.com/watch?v=RJs6e2EYj7A&embed=true
In Season 15 of Shark Tank, TOAST-IT captivated the Sharks with its unique offering of ready-to-eat Venezuelan arepas. The founders’ pitch and product demonstration were met with interest from the investors, leading to negotiations that showcased the company’s value and the Sharks’ business acumen.
The Pitch
Maria Fernanda Römer Cabezas and Maria Corina Vieteis, also known as Mafe and Coco respectively, took center stage to introduce TOAST-IT to the Sharks. They confidently asked for an investment, presenting their business as a growing brand that combines Latin American culinary traditions with modern convenience.
Product Demonstration
The sisters demonstrated the ease of preparing their signature arepas, emphasizing the quick and straightforward process. This practicality, coupled with the product’s authenticity, was designed to resonate well with the Sharks, particularly those with an interest in the food industry.
Investment & Equity
Negotiations began with the founders offering a stake in their company in exchange for a financial boost to scale their operations. The talks involved assessing the valuation of TOAST-IT, with the entrepreneurs discussing terms of investment and equity with Sharks like Daniel Lubetzky, Kevin O’Leary, Mark Cuban, Daymond John, and Lori Greiner. The dynamic between the investors and the founders unfolded as offers and counteroffers were presented and assessed.
Product Features
https://www.youtube.com/watch?v=HnzqYdCJuKg&embed=true
In exploring TOAST-IT’s offerings as seen on Shark Tank, consumers will find notable highlights in their ingredients, ease of preparation, and how they cater to various dietary needs.
Ingredients & Nutritional Value
TOAST-IT arepas are crafted from pre-cooked cornmeal flour, known as Masarepa, providing an authentic Latin flavor characteristic of Venezuelan cuisine. They also feature a product that boasts a fusion of cassava and cheese, infusing the bites with a unique taste profile. These products typically aim to provide protein and are often considered a guilt-free option due to their nutritional benefits.
Preparation & Convenience
The brand has gained attention for their ready-to-toast features, as each product, including their signature arepas and Pandebono Bites, can be easily prepared using an air fryer, toaster oven, or a conventional oven. This adds a significant level of convenience, offering quick preparation methods perfect for individuals with fast-paced lifestyles.
Dietary Accommodations
TOAST-IT caters to a range of dietary restrictions, with their products generally being gluten-free, vegan-friendly, and free from preservatives, sugar, and nuts, aligning with a staple food trend that promotes health and well-being. The absence of these common allergens highlights the brand’s commitment to inclusivity and consideration for those with specific dietary needs.
Business and Distribution
https://www.youtube.com/watch?v=PDfBMNbaA5s&embed=true
TOAST-IT has leveraged its unique positioning of Latin American food to carve a niche in the frozen food sector. The brand champions the accessibility of traditional Latin cuisine by offering pre-packaged arepas that cater to a growing demand for diverse and convenient meal options.
Retail Partnerships
TOAST-IT has established significant retail partnerships to distribute its Latin American staples. Notably, they have products shelved in prominent grocery chains such as Publix, Walmart, and Whole Foods. In Miami and throughout Florida, as well as in Texas, their presence in these stores underscores the company’s success in capturing the essence of Latin food and translating it into a product that resonates with a wide consumer base.
- Publix: A leading retailer in Florida, hosting a selection of TOAST-IT’s offerings.
- Walmart: Included TOAST-IT in its Open Call program, affirming the product’s potential.
- Whole Foods: Known for quality, TOAST-IT’s inclusion fortifies the brand’s premium positioning.
Expansion & Growth Potential
The company’s growth trajectory is marked by smart expansion strategies and a focus on innovation in product and packaging. TOAST-IT has a clear potential for increased sales and revenue, tapping into the vast market of frozen foods with a line-up that highlights the rich flavors of Latin American cuisine. They’ve gained traction by participating in Walmart’s Open Call and by being available in Winn-Dixie grocery stores, further solidifying their growth potential in the sector.
- Technology & Innovation: Employed in both food preservation methods and eye-catching packaging to entice shoppers.
- Florida & Texas Markets: Key areas where the brand has seen uptake and is focusing efforts on consumer preferences for Latin foods.
- Expansion: Even with a strong presence, plans are afoot to broaden the product range and accessibility, reinforcing the company’s mission to bring Latin American cuisine to more households.
Cultural and Brand Impact
TOAST-IT has resonated strongly within the Latin American community and beyond, showcasing cultural delicacies while using innovative marketing strategies to engage with a diverse customer base.
Cultural Significance
TOAST-IT, a Latina-owned food brand co-founded by sisters Coco and Mafe Cabezas, has made significant strides in bringing Venezuelan culinary heritage to the forefront. With their range of authentic Latin American products, they emphasize the cultural significance of traditional staples such as cassava arepas and buñuelos. The company prides itself on offering guilt-free indulgence while honoring Venezuela’s rich culinary traditions, ensuring that the authenticity of their flavors remains intact.
The introduction of these traditional foods to a broader marketplace has garnered attention from those curious about Latin American cuisine. The Shark Tank bundle, part of their offerings, showcases the potential for Latin American foods to shine on a global stage.
Marketing & Customer Engagement
On the marketing front, TOAST-IT leverages a contemporary approach with a palpable presence on platforms like Instagram. Their website and social media efforts elegantly reflect the brand’s calidad (quality) and commitment to heritage, engaging customers with visually appealing content and stories about the origins of their foods.
The co-founders have understood the potential of culinary storytelling, which evokes a sense of community and shared experiences. By capitalizing on nostalgia and the exploratory nature of food enthusiasts, TOAST-IT has built a brand that goes beyond mere consumption to encapsulate a cultural experience. Their focus on customer engagement highlights how modern brands can thrive by embracing and showcasing their culinary heritage.
