Get a 2-gallon resealable ziplock bag and place it on your counter or in a bowl to keep it open and stable. Pour your bag of pretzels into the ziplock bag. If you're using regular pretzels, make sure they're broken into roughly bite-sized pieces. They should be small enough to coat evenly but substantial enough to stay crunchy. Seal the bag most of the way, leaving just a small opening at the top to pour the oil and seasonings in.
In a separate bowl, combine the oil, ranch dressing mix, dill weed, lemon pepper, and garlic powder. Whisk this together until it's well combined and relatively smooth. The ranch mix is powdery, so you might have some tiny particles floating around, and that's fine. Just make sure everything is evenly mixed. This mixture is your coating. It carries all the flavor.
Carefully pour the oil and seasoning mixture over the pretzels in the ziplock bag. Seal the bag almost all the way, leaving just a tiny opening if needed for air. Or seal it completely. You can always open it to stir later.
Now comes the fun part. Shake the bag vigorously for about a minute or two. You want all the pretzels to be coated with the oil and seasoning mixture. Shake from multiple angles. Rotate the bag. Make sure the seasoning reaches all the way to the bottom. This is more effective than trying to stir with a spoon and much more fun.
Lay the sealed bag flat on a counter or in a pantry. Let it sit for 12 hours. This waiting period allows the seasonings to fully absorb into the pretzels and for the flavors to develop and meld. Every few hours (or at least 2-3 times during the 12-hour period), shake the bag again or open it and stir the contents from the bottom up. This prevents the seasonings from settling to the bottom and ensures even distribution. Most people do this right before bed, in the morning, and maybe once or twice in between. Don't stress about perfect timing. Just try to stir occasionally. That's it.
After the 12-hour rest period, spread the pretzels out on large baking sheets in a single layer. Try to distribute them relatively evenly so they bake consistently. If they're piled up too thick in some spots, they won't bake properly. You might need two baking sheets depending on how many pretzels you're making.
Preheat your oven to 350 degrees Fahrenheit. Once it's preheated, place the baking sheets in the oven. Bake for 15-20 minutes, checking around the 15-minute mark. You're looking for the pretzels to be crispy and dry. They should not look wet or oily when you pull them out. The exact baking time depends on how wet they were after the overnight sitting and your specific oven. Start checking at 15 minutes. If they still look slightly wet, bake for another 2-3 minutes and check again. You don't want them brown or burnt, just crispy and dry.
Remove the baking sheets from the oven and let the pretzels cool on the sheets for about 10 minutes. Transfer them to an airtight container once they're completely cooled. Stored in an airtight container, these will stay crispy and fresh for about 1-2 weeks. If they start to get a little soft after a few days, you can recrisp them in a 250-degree oven for 5-10 minutes.