Once a company decides to become a Product-Service System (PSS) provider, this inevitably means that the company's business model needs to be transformed. The development of a PSS is thus closely linked to the development of the business model. This transformation is a complex and challenging process, espacially for small and medium-sized entprises (SME). Although these types of companies make up the largest number, they are reluctant to adopt PSS and PSS-driven business models. Especially in SME, this transformation process affects the whole organisaton. A systematic literature review has shown that there is little methodological support in this area, yet. To mitigate the resulting risks and support those responsible for this transformation process, this paper presents a multi-criteria feasibility and benefit analysis for PSS and the resulting business models. Based on initial PSS concepts and business model drafts, the presented approach allows a systematic analysis of the technical and organisational feasibility, the marketability and the monetary and non-monetary benefits of the PSS-driven business model and guides the user trough the whole process of the feasibilty and benefit analysis. The approach was prototypically tested within the scope of a research project in cooperation with a SME.