Drivers like global competition, advances in technology, and new attractive market opportunities foster a process of servitization and thus the search for innovative service business models. To facilitate this process, different methods and tools for the development of new business models have emerged. Nevertheless, business model approaches are missing that enable the representation of co-creation as one of the most important service-characteristics. Rooted in a cumulative research design that seeks to advance extant business model representations, this goal is to be closed by the Service Business Model Canvas (SBMC). This contribution comprises the application of thinking-aloud protocols for the formative evaluation of the SBMC. With help of industry experts and academics with experience in the service sector and business models, the usability is tested and implications for its further development derived. Furthermore, this study provides empirically based insights for the design of service business model representation that can facilitate the development of future business models.
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