An economical energy saving toasting apparatus includes a housing with an interior baffle defining a toasting chamber therein and an inlet for the introduction of the product to be toasted into the chamber. The housing also includes an outlet through which the toasted product is dispensed. A conveying assembly for conveying the product from the inlet through the toasting chamber to the outlet is also included within the housing. Mounted within the toasting chamber is a first set of resistive heating elements that are electrically connected in a circuit and continuously energized during the operation of the heating apparatus. A second set of heating elements is also included in the heating chamber and connected to a timer in order to be energized for only selected periods of time. A micro-switch is also included in the apparatus to actuate the timer and a micro-switch actuator is positioned in the inlet and adjacent to the conveying device so as to be engaged by the product prior to entry into the toasting chamber. The engagement of the product actuates the micro-switch to energize the timer and the second set of heating coils for a predetermined period of time.