diff --git a/Cargo.lock b/Cargo.lock
index d9769241d..cb5949fac 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -7776,6 +7776,19 @@ dependencies = [
  "syn 2.0.58",
 ]
 
+[[package]]
+name = "spin-factors-executor"
+version = "2.7.0-pre0"
+dependencies = [
+ "anyhow",
+ "spin-app",
+ "spin-core",
+ "spin-factor-wasi",
+ "spin-factors",
+ "spin-factors-test",
+ "tokio",
+]
+
 [[package]]
 name = "spin-factors-test"
 version = "2.7.0-pre0"
diff --git a/crates/core/build.rs b/crates/core/build.rs
new file mode 100644
index 000000000..c96556b06
--- /dev/null
+++ b/crates/core/build.rs
@@ -0,0 +1,6 @@
+fn main() {
+    println!("cargo:rerun-if-changed=build.rs");
+    // Enable spin-factors-derive to emit expanded macro output.
+    let out_dir = std::env::var("OUT_DIR").unwrap();
+    println!("cargo:rustc-env=SPIN_FACTORS_DERIVE_EXPAND_DIR={out_dir}");
+}
diff --git a/crates/core/src/lib.rs b/crates/core/src/lib.rs
index cd02404ba..e586c1bcb 100644
--- a/crates/core/src/lib.rs
+++ b/crates/core/src/lib.rs
@@ -16,17 +16,16 @@ use std::{path::PathBuf, time::Duration};
 use anyhow::Result;
 use crossbeam_channel::Sender;
 use tracing::instrument;
-use wasmtime::component::{InstancePre, Linker};
 use wasmtime::{InstanceAllocationStrategy, PoolingAllocationConfig};
 
 pub use async_trait::async_trait;
 pub use wasmtime::{
     self,
-    component::{Component, Instance},
+    component::{Component, Instance, InstancePre, Linker},
     Instance as ModuleInstance, Module, Trap,
 };
 
-pub use store::{Store, StoreBuilder};
+pub use store::{AsState, Store, StoreBuilder};
 
 /// The default [`EngineBuilder::epoch_tick_interval`].
 pub const DEFAULT_EPOCH_TICK_INTERVAL: Duration = Duration::from_millis(10);
diff --git a/crates/core/src/store.rs b/crates/core/src/store.rs
index b2b950b5f..7ad7168b5 100644
--- a/crates/core/src/store.rs
+++ b/crates/core/src/store.rs
@@ -97,11 +97,11 @@ impl StoreBuilder {
     ///
     /// The `T` parameter must provide access to a [`State`] via `impl
     /// AsMut<State>`.
-    pub fn build<T: AsMut<State>>(self, mut data: T) -> Result<Store<T>> {
-        data.as_mut().store_limits = self.store_limits;
+    pub fn build<T: AsState>(self, mut data: T) -> Result<Store<T>> {
+        data.as_state().store_limits = self.store_limits;
 
         let mut inner = wasmtime::Store::new(&self.engine, data);
-        inner.limiter_async(|data| &mut data.as_mut().store_limits);
+        inner.limiter_async(|data| &mut data.as_state().store_limits);
 
         // With epoch interruption enabled, there must be _some_ deadline set
         // or execution will trap immediately. Since this is a delta, we need
@@ -115,3 +115,16 @@ impl StoreBuilder {
         })
     }
 }
+
+/// For consumers that need to use a type other than [`State`] as the [`Store`]
+/// `data`, this trait must be implemented for that type.
+pub trait AsState {
+    /// Gives access to the inner [`State`].
+    fn as_state(&mut self) -> &mut State;
+}
+
+impl AsState for State {
+    fn as_state(&mut self) -> &mut State {
+        self
+    }
+}
diff --git a/crates/core/tests/integration_test.rs b/crates/core/tests/integration_test.rs
index da328b2c5..8db91940d 100644
--- a/crates/core/tests/integration_test.rs
+++ b/crates/core/tests/integration_test.rs
@@ -5,9 +5,9 @@ use std::{
 
 use anyhow::Context;
 use serde_json::json;
-use spin_core::{Component, Config, Engine, State, Store, StoreBuilder, Trap};
+use spin_core::{AsState, Component, Config, Engine, State, Store, StoreBuilder, Trap};
 use spin_factor_wasi::{DummyFilesMounter, WasiFactor};
-use spin_factors::{App, RuntimeFactors};
+use spin_factors::{App, AsInstanceState, RuntimeFactors};
 use spin_locked_app::locked::LockedApp;
 use tokio::{fs, io::AsyncWrite};
 use wasmtime_wasi::I32Exit;
@@ -93,14 +93,14 @@ struct TestState {
     factors: TestFactorsInstanceState,
 }
 
-impl AsMut<State> for TestState {
-    fn as_mut(&mut self) -> &mut State {
+impl AsState for TestState {
+    fn as_state(&mut self) -> &mut State {
         &mut self.core
     }
 }
 
-impl AsMut<TestFactorsInstanceState> for TestState {
-    fn as_mut(&mut self) -> &mut TestFactorsInstanceState {
+impl AsInstanceState<TestFactorsInstanceState> for TestState {
+    fn as_instance_state(&mut self) -> &mut TestFactorsInstanceState {
         &mut self.factors
     }
 }
diff --git a/crates/factors-derive/src/lib.rs b/crates/factors-derive/src/lib.rs
index 80b750d46..921196c8b 100644
--- a/crates/factors-derive/src/lib.rs
+++ b/crates/factors-derive/src/lib.rs
@@ -78,7 +78,7 @@ fn expand_factors(input: &DeriveInput) -> syn::Result<TokenStream> {
             type InstanceState = #state_name;
             type RuntimeConfig = #runtime_config_name;
 
-            fn init<T: AsMut<Self::InstanceState> + Send + 'static>(
+            fn init<T: #factors_path::AsInstanceState<Self::InstanceState> + Send + 'static>(
                 &mut self,
                 linker: &mut #wasmtime::component::Linker<T>,
             ) -> #Result<()> {
@@ -98,9 +98,9 @@ fn expand_factors(input: &DeriveInput) -> syn::Result<TokenStream> {
                         &mut self.#factor_names,
                         #factors_path::InitContext::<T, #factor_types>::new(
                             linker,
-                            |data| &mut data.as_mut().#factor_names,
+                            |data| &mut data.as_instance_state().#factor_names,
                             |data| {
-                                let state = data.as_mut();
+                                let state = data.as_instance_state();
                                 (&mut state.#factor_names, &mut state.__table)
                             },
                         )
@@ -239,8 +239,8 @@ fn expand_factors(input: &DeriveInput) -> syn::Result<TokenStream> {
             }
         }
 
-        impl AsMut<#state_name> for #state_name {
-            fn as_mut(&mut self) -> &mut Self {
+        impl #factors_path::AsInstanceState<#state_name> for #state_name {
+            fn as_instance_state(&mut self) -> &mut Self {
                 self
             }
         }
diff --git a/crates/factors-executor/Cargo.toml b/crates/factors-executor/Cargo.toml
new file mode 100644
index 000000000..14500c624
--- /dev/null
+++ b/crates/factors-executor/Cargo.toml
@@ -0,0 +1,23 @@
+[package]
+name = "spin-factors-executor"
+version.workspace = true
+authors.workspace = true
+edition.workspace = true
+license.workspace = true
+homepage.workspace = true
+repository.workspace = true
+rust-version.workspace = true
+
+[dependencies]
+anyhow = "1"
+spin-app = { path = "../app" }
+spin-core = { path = "../core" }
+spin-factors = { path = "../factors" }
+
+[dev-dependencies]
+spin-factor-wasi = { path = "../factor-wasi" }
+spin-factors-test = { path = "../factors-test" }
+tokio = { version = "1", features = ["macros", "rt"] }
+
+[lints]
+workspace = true
diff --git a/crates/factors-executor/src/lib.rs b/crates/factors-executor/src/lib.rs
new file mode 100644
index 000000000..c624a02f0
--- /dev/null
+++ b/crates/factors-executor/src/lib.rs
@@ -0,0 +1,223 @@
+use std::collections::HashMap;
+
+use anyhow::Context;
+use spin_app::{App, AppComponent};
+use spin_core::Component;
+use spin_factors::{AsInstanceState, ConfiguredApp, RuntimeFactors, RuntimeFactorsInstanceState};
+
+/// A FactorsExecutor manages execution of a Spin app.
+///
+/// `Factors` is the executor's [`RuntimeFactors`]. `ExecutorInstanceState`
+/// holds any other per-instance state needed by the caller.
+pub struct FactorsExecutor<T: RuntimeFactors, U = ()> {
+    factors: T,
+    core_engine: spin_core::Engine<InstanceState<T::InstanceState, U>>,
+    configured_app: ConfiguredApp<T>,
+    // Maps component IDs -> InstancePres
+    component_instance_pres: HashMap<String, InstancePre<T, U>>,
+}
+
+type InstancePre<T, U> =
+    spin_core::InstancePre<InstanceState<<T as RuntimeFactors>::InstanceState, U>>;
+
+impl<T: RuntimeFactors, U: Send + 'static> FactorsExecutor<T, U> {
+    /// Constructs a new executor.
+    pub fn new(
+        core_config: &spin_core::Config,
+        mut factors: T,
+        app: App,
+        mut component_loader: impl ComponentLoader,
+        runtime_config: T::RuntimeConfig,
+    ) -> anyhow::Result<Self> {
+        let core_engine = {
+            let mut builder =
+                spin_core::Engine::builder(core_config).context("failed to initialize engine")?;
+            factors
+                .init(builder.linker())
+                .context("failed to initialize factors")?;
+            builder.build()
+        };
+
+        let configured_app = factors
+            .configure_app(app, runtime_config)
+            .context("failed to configure app")?;
+
+        let component_instance_pres = configured_app
+            .app()
+            .components()
+            .map(|app_component| {
+                let component =
+                    component_loader.load_component(core_engine.as_ref(), &app_component)?;
+                let instance_pre = core_engine.instantiate_pre(&component)?;
+                Ok((app_component.id().to_string(), instance_pre))
+            })
+            .collect::<anyhow::Result<HashMap<_, _>>>()?;
+
+        Ok(Self {
+            factors,
+            core_engine,
+            configured_app,
+            component_instance_pres,
+        })
+    }
+
+    /// Returns an instance builder for the given component ID.
+    pub fn prepare(&mut self, component_id: &str) -> anyhow::Result<FactorsInstanceBuilder<T, U>> {
+        let app_component = self
+            .configured_app
+            .app()
+            .get_component(component_id)
+            .with_context(|| format!("no such component {component_id:?}"))?;
+        let instance_pre = self.component_instance_pres.get(component_id).unwrap();
+        let factor_builders = self.factors.prepare(&self.configured_app, component_id)?;
+        let store_builder = self.core_engine.store_builder();
+        Ok(FactorsInstanceBuilder {
+            store_builder,
+            factor_builders,
+            instance_pre,
+            app_component,
+            factors: &self.factors,
+        })
+    }
+}
+
+/// A ComponentLoader is responsible for loading Wasmtime [`Component`]s.
+pub trait ComponentLoader {
+    /// Loads a [`Component`] for the given [`AppComponent`].
+    fn load_component(
+        &mut self,
+        engine: &spin_core::wasmtime::Engine,
+        component: &AppComponent,
+    ) -> anyhow::Result<Component>;
+}
+
+/// A FactorsInstanceBuilder manages the instantiation of a Spin component
+/// instance.
+pub struct FactorsInstanceBuilder<'a, T: RuntimeFactors, U> {
+    app_component: AppComponent<'a>,
+    store_builder: spin_core::StoreBuilder,
+    factor_builders: T::InstanceBuilders,
+    instance_pre: &'a InstancePre<T, U>,
+    factors: &'a T,
+}
+
+impl<'a, T: RuntimeFactors, U: Send> FactorsInstanceBuilder<'a, T, U> {
+    /// Returns the app component for the instance.
+    pub fn app_component(&self) -> &AppComponent {
+        &self.app_component
+    }
+
+    /// Returns the store builder for the instance.
+    pub fn store_builder(&mut self) -> &mut spin_core::StoreBuilder {
+        &mut self.store_builder
+    }
+
+    /// Returns the factor instance builders for the instance.
+    pub fn factor_builders(&mut self) -> &mut T::InstanceBuilders {
+        &mut self.factor_builders
+    }
+
+    /// Instantiates the instance with the given executor instance state
+    pub async fn instantiate(
+        self,
+        executor_instance_state: U,
+    ) -> anyhow::Result<(
+        spin_core::Instance,
+        spin_core::Store<InstanceState<T::InstanceState, U>>,
+    )> {
+        let instance_state = InstanceState {
+            core: Default::default(),
+            factors: self.factors.build_instance_state(self.factor_builders)?,
+            executor: executor_instance_state,
+        };
+        let mut store = self.store_builder.build(instance_state)?;
+        let instance = self.instance_pre.instantiate_async(&mut store).await?;
+        Ok((instance, store))
+    }
+}
+
+/// InstanceState is the [`spin_core::Store`] `data` for an instance.
+pub struct InstanceState<FactorsState, ExecutorInstanceState> {
+    core: spin_core::State,
+    factors: FactorsState,
+    executor: ExecutorInstanceState,
+}
+
+impl<T, U> InstanceState<T, U> {
+    /// Provides access to the `ExecutorInstanceState`.
+    pub fn executor_instance_state(&mut self) -> &mut U {
+        &mut self.executor
+    }
+}
+
+impl<T, U> spin_core::AsState for InstanceState<T, U> {
+    fn as_state(&mut self) -> &mut spin_core::State {
+        &mut self.core
+    }
+}
+
+impl<T: RuntimeFactorsInstanceState, U> AsInstanceState<T> for InstanceState<T, U> {
+    fn as_instance_state(&mut self) -> &mut T {
+        &mut self.factors
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use spin_factor_wasi::{DummyFilesMounter, WasiFactor};
+    use spin_factors::RuntimeFactors;
+    use spin_factors_test::TestEnvironment;
+
+    use super::*;
+
+    #[derive(RuntimeFactors)]
+    struct TestFactors {
+        wasi: WasiFactor,
+    }
+
+    #[tokio::test]
+    async fn instance_builder_works() -> anyhow::Result<()> {
+        let factors = TestFactors {
+            wasi: WasiFactor::new(DummyFilesMounter),
+        };
+        let env = TestEnvironment::new(factors);
+        let locked = env.build_locked_app().await?;
+        let app = App::new("test-app", locked);
+
+        let mut executor = FactorsExecutor::new(
+            &Default::default(),
+            env.factors,
+            app,
+            DummyComponentLoader,
+            Default::default(),
+        )?;
+
+        let mut instance_builder = executor.prepare("empty")?;
+
+        assert_eq!(instance_builder.app_component().id(), "empty");
+
+        instance_builder.store_builder().max_memory_size(1_000_000);
+
+        instance_builder
+            .factor_builders()
+            .wasi
+            .as_mut()
+            .unwrap()
+            .args(["foo"]);
+
+        let (_instance, _store) = instance_builder.instantiate(()).await?;
+        Ok(())
+    }
+
+    struct DummyComponentLoader;
+
+    impl ComponentLoader for DummyComponentLoader {
+        fn load_component(
+            &mut self,
+            engine: &spin_core::wasmtime::Engine,
+            _component: &AppComponent,
+        ) -> anyhow::Result<Component> {
+            Component::new(engine, "(component)")
+        }
+    }
+}
diff --git a/crates/factors/src/lib.rs b/crates/factors/src/lib.rs
index ce0666825..d73435f21 100644
--- a/crates/factors/src/lib.rs
+++ b/crates/factors/src/lib.rs
@@ -14,7 +14,7 @@ pub use crate::{
     factor::{ConfigureAppContext, ConfiguredApp, Factor, FactorInstanceState, InitContext},
     prepare::{FactorInstanceBuilder, InstanceBuilders, PrepareContext, SelfInstanceBuilder},
     runtime_config::{FactorRuntimeConfigSource, RuntimeConfigSourceFinalizer},
-    runtime_factors::{RuntimeFactors, RuntimeFactorsInstanceState},
+    runtime_factors::{AsInstanceState, RuntimeFactors, RuntimeFactorsInstanceState},
 };
 
 /// Result wrapper type defaulting to use [`Error`].
diff --git a/crates/factors/src/runtime_factors.rs b/crates/factors/src/runtime_factors.rs
index a0ff6dd68..e18a66c17 100644
--- a/crates/factors/src/runtime_factors.rs
+++ b/crates/factors/src/runtime_factors.rs
@@ -44,7 +44,7 @@ pub trait RuntimeFactors: Sized + 'static {
     ///
     /// Each factor's `init` is called in turn. Must be called once before
     /// [`RuntimeFactors::prepare`].
-    fn init<T: AsMut<Self::InstanceState> + Send + 'static>(
+    fn init<T: AsInstanceState<Self::InstanceState> + Send + 'static>(
         &mut self,
         linker: &mut Linker<T>,
     ) -> crate::Result<()>;
@@ -84,7 +84,7 @@ pub trait RuntimeFactors: Sized + 'static {
 /// Get the state of a particular Factor from the overall InstanceState
 ///
 /// Implemented by `#[derive(RuntimeFactors)]`
-pub trait RuntimeFactorsInstanceState: AsMut<Self> + Send + 'static {
+pub trait RuntimeFactorsInstanceState: AsInstanceState<Self> + Send + 'static {
     fn get_with_table<F: Factor>(
         &mut self,
     ) -> Option<(&mut FactorInstanceState<F>, &mut ResourceTable)>;
@@ -97,3 +97,7 @@ pub trait RuntimeFactorsInstanceState: AsMut<Self> + Send + 'static {
 
     fn table_mut(&mut self) -> &mut ResourceTable;
 }
+
+pub trait AsInstanceState<T: RuntimeFactorsInstanceState + ?Sized> {
+    fn as_instance_state(&mut self) -> &mut T;
+}
diff --git a/crates/factors/tests/smoke.rs b/crates/factors/tests/smoke.rs
index f23a3d15d..7cbbb24b3 100644
--- a/crates/factors/tests/smoke.rs
+++ b/crates/factors/tests/smoke.rs
@@ -14,7 +14,8 @@ use spin_factor_outbound_networking::OutboundNetworkingFactor;
 use spin_factor_variables::VariablesFactor;
 use spin_factor_wasi::{DummyFilesMounter, WasiFactor};
 use spin_factors::{
-    Factor, FactorRuntimeConfigSource, RuntimeConfigSourceFinalizer, RuntimeFactors,
+    AsInstanceState, Factor, FactorRuntimeConfigSource, RuntimeConfigSourceFinalizer,
+    RuntimeFactors,
 };
 use wasmtime_wasi_http::WasiHttpView;
 
@@ -32,8 +33,8 @@ struct Data {
     _other_data: usize,
 }
 
-impl AsMut<FactorsInstanceState> for Data {
-    fn as_mut(&mut self) -> &mut FactorsInstanceState {
+impl AsInstanceState<FactorsInstanceState> for Data {
+    fn as_instance_state(&mut self) -> &mut FactorsInstanceState {
         &mut self.factors_instance_state
     }
 }
@@ -116,7 +117,8 @@ async fn smoke_test_works() -> anyhow::Result<()> {
 
     // Invoke handler
     let req = http::Request::get("/").body(Default::default()).unwrap();
-    let mut wasi_http = OutboundHttpFactor::get_wasi_http_impl(store.data_mut().as_mut()).unwrap();
+    let mut wasi_http =
+        OutboundHttpFactor::get_wasi_http_impl(store.data_mut().as_instance_state()).unwrap();
     let request = wasi_http.new_incoming_request(req)?;
     let (response_tx, response_rx) = tokio::sync::oneshot::channel();
     let response = wasi_http.new_response_outparam(response_tx)?;