Passing the Ownership Torch to a New Generation

A business woman in front of a whiteboard teaching a class

Situation

Prior to purchasing an ExecuTrain franchise in Lexington, Kentucky in 1997, Crinda Francke was an accountant for a large auto dealership in the area. Her knowledge and experience at that company proved invaluable as she transitioned from employee to small business owner of an ExecuTrain Corporation franchise in Lexington.

The company has offered professional training, learning management solutions and compliance education for over 30 years. ExecuTrain has helped over 12 million business individuals since the company’s founding in 1984. Clients include Fortune 500 companies, small businesses and nonprofits.

During her 30-year career at ExecuTrain, Crinda’s franchise grew rapidly, and so did her involvement with the company. In 2020, she bought out the Franchisor and became the President and CEO of ExecuTrain, US.

ExecuTrain personnel work with executives and leaders to provide employees with hard and soft skills that enable them to do their jobs more effectively and efficiently. This also reduces turnover and improves the bottom line. But the workplace was changing, and so were the skillsets for those to lead companies and run successful organizations.

Solution

ExecuTrain now offers more customized corporate training, as well as IT certification, learning management systems and workforce development solutions, most of it on demand and virtual. That, however, required the development of more training content, equipment, personnel and planning. 

So, Crinda turned to the SBA for small business advice. She learned about the SBA Loan Programs, small business resource partners like the Small Business Development Center (SBDC) and Women’s Business Center (WBC), and contracting opportunities. And the knowledge about SBA loans and resource partners became crucial during the COVID-19 pandemic.

Crinda received an SBA Paycheck Protection Program (PPP) forgivable loan through Central Bank in Lexington during the pandemic. She attended numerous small business-related seminars, webinars, workshops and networking events offered by SBA and its Kentucky resource partners.

The business recovered from the pandemic and has done so well that Crinda was named the SBA 2025 Kentucky Small Business Person of the Year. She considers that award a milestone for herself and her ExecuTrain team, stating: “It’s an incredible honor to be recognized by the SBA. This award is a testament to the strength of our team, our commitment to client success, and the value of lifelong learning. As a small business, we’re proud to play a part in strengthening Kentucky’s workforce. Participating in the awards ceremony was one of the proudest accomplishments of my career.”

Impact/Outcome

Crinda used the PPP funds to keep her employees on the payroll. And she and her team continue to be involved in the Kentucky WBC Strong Women-Strong Coffee program offered across the state. ExecuTrain provides keynote speakers and offers timely training topics for attendees. And as WBC Kentucky Director Devanny King stated, Crinda saw something in ExecuTrain that others overlooked: “room to grow not just a brand, but the people behind it. She stepped into the role with a clear sense of what could be—and built a mission around professional development that transforms individuals, teams, and entire organizations.” 

Recently, Crinda sold the company to Rain and Micah Ward. Rain brings deep experience as a staffing recruiter and account manager. Micah has a strong background in IT and is a technical analyst and has owned multiple small businesses. They recently received an SBA loan from Central Bank to purchase ExecuTrain. Also, they have worked closely with Dave Oetken, Director at the Kentucky SBDC in Louisville. He helped them develop a solid business plan and financial projections to purchase the company from Crinda.

New owners Rain and Micah Ward added, “With the support of an SBA loan from Central Bank, close collaboration with Will Barry throughout the loan process, and valuable guidance from Dave Oetken at the Kentucky SBDC, we were able to move forward with a strong foundation and a clear plan. We are truly grateful for their partnership and support every step of the way, and we’re excited to continue building on ExecuTrain’s long-standing legacy of helping organizations grow through training and development.”

This article does not constitute or imply an endorsement by the SBA of any opinions, products, or services of any private individual or entity.