With the rise of Industry 4.0, it is critical to manufacturers from all different sectors to begin integrating the new paradigms that come with it. However, SMEs are at a high risk of falling behind due to the complexity and economic barriers that are involved in this process. As a potential approach, Smart Retrofitting has gained traction as a way of transforming available equipment into I4.0 enabled machines, and researchers have throughout the literature proposed various frameworks that seek to reduce the existing knowledge gap; however, the focus has been heavily towards retrofit for sensing capabilities, leaving smart control unexplored. This work addresses this gap by expanding on the literature and presenting a more comprehensive architecture that takes into account the complete potential of smart retrofit. Additionally, a learning platform is developed which intends to bring awareness of the potential of I4.0 technology to both manufacturers and students.