Flexible transport services include a wide range of demand responsive transport systems that provide non-conventional passenger and freight transportation services. Several alternative business models varying according to the local market conditions, the socio-economic, legal, and institutional framework may be developed for the provision of Flexible Transport Systems (FTS). The objective of this paper is twofold: first to present an integrated methodological framework for developing and assessing alternative FTS business models and second to demonstrate its applicability to a case study regarding the prioritization of alternative FTS business models for the provision of flexible passenger transport services in Helsinki.