The transition to a circular economy is considered a promising approach to promoting sustainable economic practices. Due to the complex interdependencies between product characteristics, value creation architecture, and benefit distribution, companies often struggle to effectively adapt their existing business models. In this context, business model innovation can serve as a catalyst for the implementation of circular economy principles. However, existing approaches and tools for business model innovation often fail to adequately address the systemic perspective and its inherent complexities within the circular economy. In response, this paper presents a framework for prototyping circular business models that aligns with systemic perspective by incorporating additional informational needs throughout the product lifecycle. This facilitates a comprehensive representation of the associated circular system by accounting for all interrelated stakeholders and their specific characteristics. As a result, the framework enables the systematic identification of potential opportunities and conflicts within prototypical circular business models, thereby strengthening the foundation for their successful implementation. Finally, the approach is validated through a case study in the context of the manufacturing industry.