For a second straight year, McDonald’s topped Entrepreneur magazine’s “Franchise 500” list, with Dunkin’ moving up a rung to the No. 2 ranking and edging 7-Eleven as the fastest-growing brand.

Entrepreneur magazine ranks franchisors according to how attractive they are as business investment opportunities, with this year’s top 5 rounded out by Sonic, Taco Bell and The UPS Store.

Milford-based Subway fell again on this year’s Franchise 500, to 125th. Subway recovered its status as Connecticut’s top-ranked franchisor after Edible Arrangements designated Atlanta as its new headquarters, with the fruit arrangement vendor at 108th on this year’s list.

McDonald’s has undertaken a high-profile upgrade of its restaurants in Connecticut and elsewhere, with a broader menu and digital kiosks designed to streamline food service, with Subway in the process of rolling out a similar initiative.

Other industry-leading franchisors with Connecticut locations in the top 20 included Planet Fitness, Great Clips, 7-Eleven, Baskin-Robbins, Ace Hardware, Kumon Math & Reading Centers and RE/MAX.

Entrepreneur tagged the mobile phone repair shop uBreakiFix as the top new franchise, ahead of the Velofix mobile bicycle repair service.

Alex.Soule@scni.com; 203-842-2545; @casoulman