Tim Riegel Income Report

Company

Mozark Fire Pit Studio

Industry

Home Decor, Outdoor and Camping Gear, Handmade and Artisanal

Revenue Models

E-commerce, Marketplace, Physical Products

Tim Riegel's Customizable Fire Pits Forge $169,000 on Etsy Amid Rising Costs

Hey there! Ever wonder how to keep your side hustle thriving in an inflation-hit market? Well, Tim Riegel, the brains behind Mozark Fire Pit Studio, has quite the story for you.

The Challenge of Rising Costs

Imagine this: You’re scrolling through your monthly earnings report and notice your profits dipping. That was Tim six months ago. At first, it was a shocker, but then it hit him—the cost of living was messing with his business mojo!

  • Lamar’s Local Gem: Tim’s gig kicked off in 2021 and boy, did it start with a bang! His hefty steel fire pits were the talk of Lamar, Missouri.
  • Etsy Fame: His craft reached far and wide—throughout the U.S. and Canada—with over $50K in sales in just five months.

Maintaining Profit Margins

You know what they say about challenges—they’re just opportunities in disguise. Faced with escalating costs for steel, gas, and packaging supplies, Tim rolled up his sleeves.

“You’ve got to keep an eye on your costs,” says Tim. “Before you know it, your profit margin can become slimmer than a dollar bill.”

Riegel wasn’t about to let that happen. So what did he do?

  • Hiring Help: He kept his team lean—one contract worker at $15/hr—to keep those massive fire pits moving.
  • Savvy Moves: He nudged up his prices and spiced up his products with more colors and customization options to make every penny worth it for customers.
  • Pricing Strategy: Now averaging at $950 per pit (up from $650), Mozark has raked in a cool $169K over the past year.

Riegel’s Price-Smart Tactics

“Continuous review is key,” advises Riegel. A monthly price check helps prevent shocking customers with sudden hikes—smooth moves lead to steady sales!

Diving Into Side Hustle Dynamics

You might be wondering if you could start something similar—make sure you have some cash and mad skills like welding under your belt! And well yes…

“A little creativity doesn’t hurt either!” chuckles Tim as he recalls some unique customizations requested by clients. Patience pays off—the guy hasn’t seen anything below five-star reviews on Etsy!

Balancing Acts: Work & Life Harmony

Juggling a full-time job as a general manager at Lamar Enterprises plus creating artful fire pits may seem overwhelming—but our friend Tim is proof that where there’s will there’s way (and date nights)!

“It boils down to passion,” says Riegel sharing his secret sauce for success amid chaos. “When you love what you do—even those extra hours feel like part of life’s grand adventure.”

How it Works: Launch Your Fire Pit Side Hustle

Step 1: Master the Craft

Before anything, get cozy with welding. With nearly two decades of welding finesse under his belt, Tim Riegel crafted fire pits that earned a blazing trail of five-star reviews. If your hands aren’t yet steady with metal and flame, it’s worth striking up some practice.

Step 2: Sourcing Materials

  • Gather Supplies: Hit up places like Facebook Marketplace for steel and other necessities.
  • Sustainably Source: Tim used recyclable steel—eco-friendly and wallet-wise!

Step 3: Pricing Strategy

Keeping an eagle eye on expenses is key. Skim your margins monthly to fine-tune prices without giving your customers sticker shock. Remember, being in business means pocketing profit, not just breaking even.

Balancing Act:

Your side hustle should orbit around your life, not bulldoze through it. Sync production with personal time to keep both clockworks ticking smoothly together.

Step 4: Spice It Up with Customization

Dare to dazzle with custom features – more colors, designs or even an extra handle! Tailoring fire pits caters to each customer’s spark of desire.

The Personal Touch:

Talking through text and sending snapshots of the final product can fan the flames of customer loyalty. Post-purchase check-ins? Icing on the cake.

The Step-By-Step Dance:

  1. Create:Create a blueprint for each unique design — whether it’s a classic look or a fresh twist requested by the buyer.
  2. Assemble:Fuse artistry with industry as you assemble the pit in your workshop.
  3. Communicate:Nurture relationships with buyers by keeping them updated throughout creation and delivery.
  4. Deliver & Delight:Pack carefully (pricey gas means smart shipping), dispatch via freight trucks, and ensure satisfaction upon arrival.

Pros

  • High Profit Margins: The business model allows for maintaining significant profit margins, even with price adjustments.
  • Low Initial Investment: Starting costs are relatively low, making it accessible for those with basic skills and some initial cash.
  • Flexible Schedule: This side hustle can be managed around a full-time job and personal commitments.
  • Personal Satisfaction: Engaging in a craft you enjoy can bring fulfillment and passion to your work life.
  • Market Expansion: The ability to sell products online means reaching customers across the U.S. and Canada, increasing sales potential.

Cons

  • Financial Risk: Initiating such a venture demands upfront capital. For instance, Riegel needed cash to begin his fire pit side hustle, implying a person must have financial resources available for investment and the stomach to handle potential losses.
  • Material Costs: Fluctuating prices of essential materials can erode profit margins. As experienced by Riegel, the rising cost of recyclable steel, gas, and packaging supplies can significantly shrink the profitability of each sale.
  • Labor Intensity: Managing this type of business requires considerable time investment. The article mentions Riegel’s extra 40-hour work weeks, illustrating the intense labor commitment on top of a full-time job.
  • Demanding Skill Set: Not everyone possesses the required creative and technical skills such as welding and design customization. This limitation could deter many from replicating Riegel’s success with Mozark Fire Pit Studio.
  • Pricing Strategy Stress: The pressure to continually reassess and adjust pricing to maintain profitability without alienating customers is an ongoing challenge that can add stress and complexity to managing such a business.

Income-Generating Platforms Used by Tim Riegel

Have you ever wondered how folks with a side hustle manage to rake in some serious cash? Well, let me introduce you to Tim Riegel. He’s the maestro behind Mozark Fire Pit Studio. He turned hefty steel into treasures that warm up chilly evenings – and his wallet, of course!

  • Etsy: This is where the magic happens for Tim. He sells his custom-made fire pits here, reaching customers far beyond his small town. Imagine shipping your craft across the U.S. and Canada, all from the cozy corner of Lamar, Missouri!
  • Facebook Marketplace: It’s not just about selling; it’s also about smart buying. Tim uses this platform to snap up supplies he needs to keep those fires burning and the money flowing.

Making Money on Etsy

So, how does one turn metal into money on Etsy? Riegel saw his sales hit an impressive $50,000 in just five months! That’s right – he turned a side hustle into a significant income stream directly through this online marketplace.

“Mozark Fire Pit Studio”, doesn’t it sound like a haven for fire pit lovers? And guess what? His dedication not only created glowing reviews but also glowing profits despite inflation trying to play spoilsport.

Sourcing Cheaply with Facebook Marketplace

Sure, selling is crucial but don’t forget about costs. Talk about being smart with your cash, Tim uses Facebook Marketplace for sourcing materials. Clever, isn’t it? Keep those expenses low and keep that income high!

So if you’re itching for some extra dough and have skills like welding or creativity (or you’re willing to learn), platforms like Etsy might just be your golden ticket! And hey, don’t overlook places like Facebook Marketplace; they could be crucial in cutting down those costs.

Note: Always remember to reevaluate regularly – because no one likes unpleasant surprises with their prices or profits.

Starting a Lucrative Side Hustle

Creating a successful side hustle involves several key elements: identifying a market need, having specialized skills, and managing resources efficiently. Here’s a closer look at how to replicate a profitable venture in the handmade product industry.

Revenue Model

A successful revenue model typically includes:

  • Sourcing Materials: Efficient procurement of quality supplies is essential. Utilize platforms like Facebook Marketplace for cost-effective sourcing.
  • Production Skills: Hands-on expertise, such as welding and customization abilities, are pivotal for creating unique products that stand out.
  • Pricing Strategy: Regularly review and adjust prices based on costs and competitor analysis to maintain healthy profit margins.

Industry Insights

The handmade product industry can be highly rewarding but also competitive. Key activities include continuous market research and enhancing product features to stay ahead of the competition.

Essential Activities

  • Sourcing Raw Materials: Secure sustainable and affordable materials regularly.
  • Production: High-quality craftsmanship is non-negotiable. Aim for durability and customization to meet varied customer needs.
  • Customer Engagement: Maintain excellent communication with your buyers through personalized interactions to ensure satisfaction and repeat business.

The Investment Breakdown

Initial Investment Estimate: $20,000 – $30,000

The Reasoning Behind This Estimate:

  • Sourcing Equipment:An initial bulk purchase of steel or other primary materials can run up to $10,000 – $15,000 depending on quality and quantity requirements.
  • Machinery & Tools: Bespoke tools for welding or crafting unique designs could cost around $5,000 – $10,000.
  • Labor Costs: If hiring part-time help or contractors for tasks like loading products onto freight trucks is necessary.
  • Packing & Shipping Supplies: This includes packaging material costs which should ideally be bought in bulk to reduce expenses over time.This estimate reflects the necessity of acquiring high-quality materials upfront alongside essential machinery required for producing durable products while factoring in labor & logistics expenses crucial for scaling operations efficiently over time with an appropriate pricing model ensuring profitability amidst rising supply costs due to inflationary pressures felt across various industries worldwide today!

Essential Tools and Services for Starting a Fire Pit Business

Hardware

  • Steel: Sourcing high-quality steel is fundamental for crafting fire pits.
  • Welding Equipment: Required for assembling the fire pits. Experience in welding is crucial.
  • Freight Trucks: Necessary for delivering large, heavy products to customers nationwide.

Software and Online Platforms

  • Etsy: An online marketplace to reach customers across the U.S. and Canada.
  • Facebook Marketplace: Useful for sourcing materials and supplies locally.

Add-ons and Customization Tools

  • Paitna Techniques: For adding unique finishes and colors to the fire pits.
  • Cutting Tools: For adjusting designs based on customer requests (e.g., additional handles).

Buisiness Management

  • Pricing Strategy Software: Helps keep track of costs, competitor pricing, and profit margins.
  • Email Communication Tools:: Facilitates follow-ups with customers for feedback and satisfaction checks.
Sign up💸 for our weekly newsletter. It’s Free!

Revenue Type

Online Business, Side Hustle

Platforms

Etsy, Facebook Marketplace

Committment

Full Time

Last Updated

07/31/2023