JACKSON, Wyo. — On Wednesday, April 24, Axis Gymnastics and Sports Academy shared with Buckrail that its rent will increase by 60% on November 1, making it difficult for the business to keep its doors open.
Axis’s current monthly rent of $14,000 will go up to $20,500 per month, with a 3% increase every year.
Owner of Axis Gymnastics and Sports Academy Jess Larson will have to decide whether or not to renew the space’s lease by Tuesday, April 30. In order for the business to stay open, Larson told Buckrail that she needs to find a way to quickly adjust her business model.
“It’s hard for a small business to handle such a dramatic increase in rent,” Larson said. “Axis is not alone — it’s harder for small businesses to make it in Jackson Hole. I don’t know the answer to what the community can do to help sustain businesses.”
Larson said that she has been looking into a couple of other spaces, but rent costs are consistent throughout the valley.
“We understand that this is market rate, but it’s hard to swallow,” Larson said.
Larson said that she is dedicated to providing a service that is accessible to all kids, not just a certain demographic of the community, but is looking into the possibility of increasing class and camp costs.
“It’s always been really important to me to provide a space where kids can come and be active and play,” Larson said. “I would hate to see a space have to close that offers that to the community.”
Currently, 400 kids are enrolled in Axis’s programs. Axis offers summer camps, gymnastic classes, big air classes on the trampoline, birthday parties and “Cool, No School” days when Teton County School District schools are not in session. The Jackson Hole Ski and Snowboard Club’s Freeride Program also uses the space for training.
In the next week, Larson shared that she will have to make some tough decisions.
Buckrail will continue to follow this story as it unfolds.
