Location‐based Entertainment has matured in Europe and the United States, but it is still a newborn baby in China, with great risks and potential. This paper takes college students in Beijing area as the investigation object, collects data by combining online and offline field research, applies cross‐list analysis method to explore the various characteristics of college students' Location‐based Entertainment consumption behavior, explores the factors affecting college students' consumption through principal component analysis method(PCA), constructs a quartile on the basis of satisfaction evaluation, and obtains some suggestions on improving consumer satisfaction; Comprehensive use of AHP‐SWOT method to explore Location‐based Entertainment industry strategic path selection. At the same time, it also makes a survey on the future direction of Location‐based Entertainment, and puts forward specific suggestions on the aspects of user mining, market determination, improvement of satisfaction and promotion of healthy development of the industry, in order to provide theoretical support for the vigorous development of Location‐based Entertainment.