This paper introduces a conceptual framework for Learning Factory 5.0 (LF 5.0), designed to address the evolving demands of Industry 5.0 in technical education. LF 5.0 emphasizes human-centricity, sustainability, and advanced technological integration, leveraging open design and open-source principles to foster accessibility and collaboration. The paper critically examines the limitations of traditional Industry 4.0 learning factories—such as limited flexibility, insufficient customization, and low emphasis on sustainability—and demonstrates how LF 5.0 overcomes these challenges through collaborative networks, immersive technologies, and circular economy practices. While the model is at a conceptual stage, it provides a strategic roadmap for aligning technical education with future industrial and societal needs. The discussion highlights implementation challenges, limitations, and directions for future research to ensure scalability and impact.