An efficient scheme for computing the geometric entanglement (GE) per lattice site for quantum many-body systems on a periodic finite-size chain is proposed in the context of a tensor network algorithm based on matrix product state representations. It has been systematically tested for three prototypical critical quantum spin chains, which belong to the same Ising universality class. The simulation results lend strong support to the previous claim (Shi et al 2010 New J. Phys.12 025008; Stéphan et al 2010 Phys. Rev. B 82 180406R) that the leading finite-size correction to the GE per lattice site is universal, with its remarkable connection to the celebrated Affleck–Ludwig boundary entropy corresponding to a conformally invariant boundary condition.