497

 

FVIT P1 09/18

SUPPLEMENT DATED SEPTEMBER 10, 2018

TO THE PROSPECTUS DATED MARCH 1, 2018

OF

FRANKLIN VALUE INVESTORS TRUST

Franklin Balance Sheet Investment Fund

Franklin MicroCap Value Fund

Franklin Small Cap Value Fund

The prospectus is amended as follows:

I.  The following replaces the “Shareholder Fees” and “Example” tables in the “Fund Summaries – Franklin Balance Sheet Investment Fund – Fees and Expenses of the Fund” section of the prospectus:

Shareholder Fees

(fees paid directly from your investment)

	Class A1	Class C2	Class R	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%	None	None	None	None
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	None	1.00%	None	None	None

1. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

2. Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date.  Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes.  Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods.  (See “Your Account – Choosing a Shares Class – Sales Charges – Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

Example

	1 Year	3 Years	5 Years	10 Years
Class A	$ 639	$ 837	$ 1,053	$ 1,672
Class C	$ 270	$ 537	$ 929	$ 2,030
Class R	$ 119	$ 382	$ 666	$ 1,476
Class R6	$ 55	$ 191	$ 338	$ 768
Advisor Class	$ 68	$ 225	$ 396	$ 892
If you do not sell your shares:
Class C	$ 170	$ 537	$ 929	$ 2,030

II.  The following is added to the “Fund Summaries – Franklin Balance Sheet Investment Fund – Performance” section of the prospectus:

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018.  Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018.  If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

III.  The following replaces the “Shareholder Fees” and “Example” tables in the “Fund Summaries – Franklin MicroCap Value Fund – Fees and Expenses of the Fund” section of the prospectus:

Shareholder Fees

(fees paid directly from your investment)

	Class A1	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%	None	None
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	None	None	None

1

1. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

Example

	1 Year	3 Years	5 Years	10 Years
Class A	$ 662	$ 900	$ 1,157	$ 1,892
Class R6	$ 84	$ 264	$ 460	$ 1,025
Advisor Class	$ 94	$ 295	$ 514	$ 1,143

IV.  The following is added to the “Fund Summaries – Franklin MicroCap Value Fund – Performance” section of the prospectus:

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018.  Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018.  If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

V.  The following replaces the “Shareholder Fees” and “Example” tables in the “Fund Summaries – Franklin Small Cap Value Fund – Fees and Expenses of the Fund” section of the prospectus:

Shareholder Fees

(fees paid directly from your investment)

	Class A1	Class C2	Class R	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%	None	None	None	None
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	None	1.00%	None	None	None

1. There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

2. Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date.  Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes.  Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods.  (See “Your Account – Choosing a Shares Class – Sales Charges – Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

Example

	1 Year	3 Years	5 Years	10 Years
Class A	$ 651	$ 870	$ 1,106	$ 1,783
Class C	$ 283	$ 571	$ 984	$ 2,137
Class R	$ 132	$ 416	$ 722	$ 1,590
Class R6	$ 62	$ 200	$ 349	$ 785
Advisor Class	$ 82	$ 260	$ 453	$ 1,013
If you do not sell your shares:
Class C	$ 183	$ 571	$ 984	$ 2,137

VI.  The following is added to the “Fund Summaries – Franklin Small Cap Value Fund – Performance” section of the prospectus:

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018.  Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018.  If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

2

VII. The first chart under the “Your Account – Choosing a Share Class” section of the prospectus is replaced with the following:

Class A	Class C	Class R	Class R6	Advisor Class
Initial sales charge of 5.50% or less	No initial sales charge	No initial sales charge	See "Qualified Investors - Class R6" below	See "Qualified Investors – Advisor Class" below
Deferred sales charge of 1% on purchases of $1 million or more sold within 18 months	Deferred sales charge of 1% on shares you sell within 12 months	Deferred sales charge is not applicable
Lower annual expenses than Class C or R due to lower distribution fees	Higher annual expenses than Class A due to higher distribution fees.  Automatic conversion to Class A shares after approximately ten years, reducing future annual expenses.	Higher annual expenses than Class A due to higher distribution fees (lower than Class C).  No conversion to Class A shares, so annual expenses do not decrease.

VIII. The first chart under the “Your Account – Choosing a Share Class – Class A, C & R – Sales Charges – Class A” section of the prospectus is replaced with the following:

when you invest this amount	the sales charge makes up this % of the offering price1	which equals this % of your net investment1
Under $50,000	5.50%	5.82%
$50,000 but under $100,000	4.50%	4.71%
$100,000 but under $250,000	3.50%	3.63%
$250,000 but under $500,000	2.50%	2.56%
$500,000 but under $1 million	2.00%	2.04%

1. The dollar amount of the sales charge is the difference between the offering price of the shares purchased (which factors in the applicable sales charge in this table) and the net asset value of those shares. Since the offering price is calculated to two decimal places using standard rounding criteria, the number of shares purchased and the dollar amount of the sales charge as a percentage of the offering price and of your net investment may be higher or lower depending on whether there was a downward or upward rounding.

IX. The following is added to the “Your Account – Choosing a Shares Class – Sales Charges - Class A – Sales Charge Waivers – Waivers for certain investors” section:

•  Class C shareholders whose shares are converted to Class A shares after 10 years under the Class C shares’ conversion feature.

X. The “Notice of Automatic Conversion of Class C Shares to Class A Shares after 10-Year Holding Period” section under the “Your Account” section of the prospectus is removed and the following is added after the “Your Account – Choosing a Shares Class – Balance Sheet Fund and Small Cap Value Fund – Sales Charges – Class C – Distribution and Service (12b-1) Fees” section:

Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period

Effective on October 5, 2018, Class C shares’ conversion feature will become effective.  The conversion feature provides that Class C shares that have been held for 10 years or more will automatically convert into Class A shares and will be subject to Class A shares’ lower Rule 12b-1 fees (the “Conversion Feature”). On or about October 19, 2018, Class C shares of the Fund that have been outstanding for 10 years or more will automatically convert to Class A shares of the Fund on the basis of the relative net asset values of the two classes.  Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C (or Class C1) shares’ purchase date.  The monthly conversion date is expected to occur around the middle of every month and generally falls on a Friday.

Terms of the Conversion Feature.  Class C shares that automatically convert to Class A shares of the Fund will convert on the basis of the relative net asset values of the two classes.  Shareholders will not pay a sales charge, including a CDSC, upon the conversion of their Class C shares to Class A shares pursuant to the Conversion Feature. The automatic conversion of the Fund’s Class C shares into Class A shares after the 10-year holding period is not expected to be a taxable event for federal income tax purposes. Shareholders should consult with their tax advisor regarding the state and local tax consequences of such conversions.

3

If you previously owned Class C1 shares of the Fund, the time you held such shares will count towards the 10-year period for automatic conversion to Class A shares. Class C (or Class C1) shares of the Fund acquired through automatic reinvestment of dividends or distributions will convert to Class A shares of the Fund on the conversion date pro rata with the converting Class C shares of the Fund that were not acquired through reinvestment of dividends or distributions. 

Class C shares held through a financial intermediary in an omnibus account will be automatically converted into Class A shares only if the intermediary can document that the shareholder has met the required holding period. In certain circumstances, when shares are invested through retirement plans, omnibus accounts, and in certain other instances, the Fund and its agents may not have transparency into how long a shareholder has held Class C (or Class C1) shares for purposes of determining whether such Class C shares are eligible for automatic conversion into Class A shares and the financial intermediary may not have the ability to track purchases to credit individual shareholders’ holding periods.  This primarily occurs when shares are invested through certain record keepers for group retirement plans, where the intermediary cannot track share aging at the participant level.  In these circumstances, the Fund will not be able to automatically convert Class C shares into Class A shares as described above. In order to determine eligibility for conversion in these circumstances, it is the responsibility of the shareholder or their financial intermediary to notify the Fund that the shareholder is eligible for the conversion of Class C shares to Class A shares, and the shareholder or their financial intermediary may be required to maintain and provide the Fund with records that substantiate the holding period of Class C (and, if applicable, Class C1) shares. In these circumstances, it is the financial intermediary’s (and not the Fund’s) responsibility to keep records and to ensure that the shareholder is credited with the proper holding period. Please consult with your financial intermediary about your shares’ eligibility for this conversion feature. 

Also effective October 5, 2018, new accounts or plans may not be eligible to purchase Class C shares of the Fund if it is determined that the intermediary cannot track shareholder holding periods to determine whether a shareholder’s Class C shares are eligible for conversion to Class A shares.  Accounts or plans (and their successor, related and affiliated plans) that have Class C (or Class C1) shares of the Fund available to participants on or before October 5, 2018, may continue to open accounts for new participants in that share class and purchase additional shares in existing participant accounts.  The Fund has no responsibility for overseeing, monitoring or implementing a financial intermediary’s process for determining whether a shareholder meets the required holding period for conversion.

A financial intermediary may sponsor and/or control accounts, programs or platforms that impose a different conversion schedule or different eligibility requirements for the conversion of Class C shares into Class A shares. In these cases, Class C shareholders may convert to Class A shares under the policies of the financial intermediary and the conversion may be structured as an exchange of Class C shares for Class A shares of the Fund. Financial intermediaries will be responsible for making such exchanges in those circumstances. Please consult with your financial intermediary if you have any questions regarding your shares’ conversion from Class C shares to Class A shares.

XI. The following replaces the first sentence in the “Your Account – Choosing a Shares Class – Reinstatement Privilege” section:

If you sell any class of shares of a Franklin Templeton Investments fund, you may reinvest all or a portion of the proceeds from that sale within 90 days within the same share class (or share class equivalent if the share class you redeemed from is closed to new investors) without an initial sales charge.

XII. The following is added to the “Your Account – Exchanging Shares – Exchange Privilege” section:

Exchange Effects on Class C Conversion Feature.  Effective October 5, 2018, if you exchange your Class C shares for the same class of shares of another Franklin Templeton fund, the time your shares are held in the initial Fund will count towards the 10-year period for automatic conversion to Class A shares.

XIII. The following replaces the first paragraph under the “Your Account – Account Policies – Calculating Share Price – Class A & C” section of the prospectus:

When you buy shares, you pay the "offering price" for the shares. The "offering price" is determined by dividing the NAV per share by an amount equal to 1 minus the sales charge applicable to the purchase (expressed in decimals), calculated to two decimal places using standard rounding criteria. The number of Fund shares you will be issued will equal the amount invested divided by the applicable offering price for those shares, calculated to three decimal places using standard rounding criteria. For example, if the NAV per share is $10.25 and the applicable sales charge for the purchase is 5.50%, the offering price would be calculated as follows: 10.25 divided by 1.00 minus 0.055 [10.25/0.945] equals 10.582011, which, when rounded to two decimal points, equals 10.58. The offering price per share would be $10.58.

4

 

XIV. The following replaces the charts under the “Your Account – Account Policies – Dealer Compensation – Class A, C & R” section of the prospectus:

Small Cap Value Fund

	Class A	Class C	Class R
Commission (%)	—	1.001	—
Investment under $50,000	5.00	—	—
$50,000 but under $100,000	4.00	—	—
$100,000 but under $250,000	3.00	—	—
$250,000 but under $500,000	2.25	—	—
$500,000 but under $1 million	1.75	—	—
$1 million or more	up to 1.00	—	—
12b-1 fee to dealer	0.252, 3	1.004	0.50

Balance Sheet Fund and MicroCap Value Fund (Class A only)

	Class A	Class C	Class R
Commission (%)	—	1.001	—
Investment under $50,000	5.00	—	—
$50,000 but under $100,000	4.00	—	—
$100,000 but under $250,000	3.00	—	—
$250,000 but under $500,000	2.25	—	—
$500,000 but under $1 million	1.75	—	—
$1 million or more	up to 1.00	—	—
12b-1 fee to dealer	0.252	1.004	0.50

1. Commission includes advance of the first year's 0.25% 12b-1 service fee. Distributors may pay a prepaid commission. However, Distributors does not pay a prepaid commission on any purchases by Employer Sponsored Retirement Plans.

2. For purchases at NAV where Distributors paid a prepaid commission, dealers may start to receive the 12b-1 fee in the 13th month after purchase. For purchases at NAV where Distributors did not pay a prepaid commission, dealers may start to receive the 12b-1 fee at the time of purchase.

3. Under the Distribution Plan for Class A, the Small Cap Value Fund may pay up to 0.35% to Distributors or others, out of which 0.10% generally will be retained by Distributors for its distribution expenses. As set by the board of trustees (until further notice), the Small Cap Value Fund currently may pay up to 0.25% under the Plan.

4. Dealers may be eligible to receive up to 0.25% at the time of purchase and may be eligible to receive 1% starting in the 13th month. During the first 12 months, the full 12b-1 fee will be paid to Distributors to partially offset the commission and the prepaid service fee paid at the time of purchase. For purchases at NAV where Distributors did not pay a prepaid commission, dealers may start to receive the 12b-1 fee at the time of purchase. After approximately 10 years, Class C shares convert to Class A shares and dealers may then be eligible to receive the 12b-1 fee applicable to Class A.

Please keep this supplement with your prospectus for future reference.

5

 

FVIT SA1 09/18

SUPPLEMENT DATED SEPTEMBER 10, 2018

TO THE STATEMENT OF ADDITIONAL INFORMATION

DATED MARCH 1, 2018

OF

FRANKLIN VALUE INVESTORS TRUST

Franklin Balance Sheet Investment Fund

Franklin MicroCap Value Fund

Franklin Small Cap Value Fund

The Statement of Additional Information (“SAI”) is amended as follows:

I. The following replaces the first sentence under “Buying and Selling shares – Initial sales charges:”

The maximum initial sales charge is 5.50% for Class A.

II. The following replaces the second paragraph under “Buying and Selling shares – Initial sales charges – Financial intermediary compensation:”

Distributors may pay the following commissions to financial intermediaries who initiate and are responsible for purchases of Class A shares in the following amounts:

Amount of Investment	For Funds with an initial sales charge of 5.50% (%)	For Funds with an initial sales charge of 4.25% (%)	For Funds with an initial sales charge of 2.25% (%)
Under $50,000	5.00	4.00	2.00
$50,000 but under $100,000	4.00	4.00	2.00
$100,000 but under $250,000	3.00	3.00	1.75
$250,000 but under $500,000	2.25	2.25	1.25
$500,000 but under $1 million	1.75	1.00	1.00
$1 million but under $4 million	1.00	1.00	1.00
$4 million but under $10 million	1.00	1.00	1.00
$10 million but under $50 million	0.50	0.50	0.50
$50 million or more	0.25	0.25	0.25

Consistent with the provisions and limitations set forth in its Class A Rule 12b-1 distribution plan, the Fund may reimburse Distributors for the cost of these commission payments.

III. The following replaces the first paragraph under “Buying and Selling shares – Contingent deferred sales charge (CDSC) - Class A & C:”

Contingent deferred sales charge (CDSC) - Class A & C     If you invest any amount in Class C shares, $1 million or more in Class A shares of mutual funds with a maximum initial sales charge of 5.50% or $500,000 or more for mutual funds with a maximum initial sales charge of 4.25% or 2.25%, either as a lump sum or through our cumulative quantity discount or letter of intent programs, a CDSC may apply on any Class A shares you sell within 18 months and any Class C shares you sell within 12 months of purchase. The CDSC is 1% of the value of the shares sold or the net asset value at the time of purchase, whichever is less, for Class A shares of mutual funds with a maximum initial sales charge of 5.50% and for Class C shares.  The CDSC is 0.75% of the value of the shares sold or the net asset value at the time of purchase, whichever is less, for Class A shares of mutual funds with a maximum initial sales charge of 4.25% or 2.25%; however this CDSC will change to 1.00% on or after March 10, 2020.

Please keep this supplement with your SAI for future reference.

1

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Document Effective Date	dei_DocumentEffectiveDate	Sep. 10, 2018
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Fund Summary

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund

Investment Goal

High total return, of which capital appreciation and income are components.

Fees and Expenses of the Fund

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees {- Franklin Balance Sheet Investment Fund} - Franklin Value Investors Trust-24 - Franklin Balance Sheet Investment Fund	Class A	[1]	Class C	[2]	Class R	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%		none		none	none	none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	none		1.00%		none	none	none

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Annual Operating Expenses {- Franklin Balance Sheet Investment Fund} - Franklin Value Investors Trust-24 - Franklin Balance Sheet Investment Fund		Class A	Class C	Class R	Class R6	Advisor Class
Management fees		0.47%	0.47%	0.47%	0.47%	0.47%
Distribution and service (12b-1) fees		0.25%	1.00%	0.50%	none	none
Other expenses		0.20%	0.20%	0.20%	0.10%	0.20%
Acquired fund fees and expenses	[1]	0.05%	0.05%	0.05%	0.05%	0.05%
Total annual Fund operating expenses	[1]	0.97%	1.72%	1.22%	0.62%	0.72%
Fee waiver and/or expense reimbursement	[2]	(0.05%)	(0.05%)	(0.05%)	(0.08%)	(0.05%)
Total annual Fund operating expenses after fee waiver and/or expense reimbursement	[1],[2]	0.92%	1.67%	1.17%	0.54%	0.67%

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example {- Franklin Balance Sheet Investment Fund} - Franklin Value Investors Trust-24 - Franklin Balance Sheet Investment Fund - USD ($)	Class A	Class C	Class R	Class R6	Advisor Class
1 year	$ 639	$ 270	$ 119	$ 55	$ 68
3 years	837	537	382	191	225
5 years	1,053	929	666	338	396
10 years	$ 1,672	$ 2,030	$ 1,476	$ 768	$ 892

If you do not sell your shares:

Expense Example, No Redemption {- Franklin Balance Sheet Investment Fund}	Franklin Value Investors Trust-24 Franklin Balance Sheet Investment Fund Class C USD ($)
1 Year	$ 170
3 Years	537
5 Years	929
10 Years	$ 2,030

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 24.68% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests most of its assets in equity securities of companies the Fund's investment manager believes are undervalued at the time of purchase but that have the potential for capital appreciation. The Fund invests predominantly in common stocks.

The equity securities invested in by the Fund are typically purchased at a low price relative to book value. In addition to book value, the investment manager considers a variety of other factors in choosing an investment.

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

In selecting investments, the investment manager conducts in-depth analysis of the company and its financials and focuses on those securities for which the manager perceives the potential of financial improvement and upward revaluation.

The Fund may invest in companies of any size, across the entire market capitalization spectrum including smaller and midsize companies. The Fund may invest up to 25% of its total assets in foreign securities. The Fund may also invest in equity real estate investment trusts (REITs).

Principal Risks

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Smaller and Midsize Companies

Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development, and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Performance

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Class A Annual Total Returns

Best Quarter:	Q3'09	19.66%
Worst Quarter:	Q4'08	-22.67%

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Average Annual Total Returns{- Franklin Balance Sheet Investment Fund} - Franklin Value Investors Trust-24 - Franklin Balance Sheet Investment Fund	Past 1 year	Past 5 years	Past 10 years	Since Inception	[1]
Class A | Return Before Taxes	5.98%	9.73%	5.11%
Class A | After Taxes on Distributions	4.08%	6.78%	3.16%
Class A | After Taxes on Distributions and Sales	4.93%	7.23%	3.81%
Class C | Return Before Taxes	10.58%	10.21%	4.94%
Class R | Return Before Taxes	12.15%	10.76%	5.51%
Class R6 | Return Before Taxes	12.84%			9.72%
Advisor Class | Return Before Taxes	12.71%	11.31%	6.15%
Russell 3000® Value Index (index reflects no deduction for fees, expenses or taxes)	13.19%	13.95%	7.19%

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[2] Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date. Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes. Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods. (See “Your Account – Choosing a Shares Class – Sales Charges - Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

[1] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[2] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. In addition, the transfer agent has contractually agreed to cap transfer agency fees for Class R6 shares of the Fund so that transfer agency fees for the class do not exceed 0.03%, until February 28, 2019. For Class R6, the “Fee waiver and/or expense reimbursement” and “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” line items have been restated to reflect the current fee waivers and/or expense reimbursements for Class R6 for the upcoming fiscal year. Consequently, for Class R6, the “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” differ from the ratio of expenses to average net assets (net of waiver and payments by affiliates) shown in the Financial Highlights. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[1] Since inception May 1, 2013.

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Registrant Name

dei_EntityRegistrantName

FRANKLIN VALUE INVESTORS TRUST

Prospectus Date

rr_ProspectusDate

Sep. 10, 2018

Risk/Return [Heading]

rr_RiskReturnHeading

Fund Summary

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund

Risk/Return:

rr_RiskReturnAbstract

Objective [Heading]

rr_ObjectiveHeading

Investment Goal

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

High total return, of which capital appreciation and income are components.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 24.68% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

24.68%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example, No Redemption, By Year, Caption [Text]

rr_ExpenseExampleNoRedemptionByYearCaption

If you do not sell your shares:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund invests most of its assets in equity securities of companies the Fund's investment manager believes are undervalued at the time of purchase but that have the potential for capital appreciation. The Fund invests predominantly in common stocks.

The equity securities invested in by the Fund are typically purchased at a low price relative to book value. In addition to book value, the investment manager considers a variety of other factors in choosing an investment.

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

In selecting investments, the investment manager conducts in-depth analysis of the company and its financials and focuses on those securities for which the manager perceives the potential of financial improvement and upward revaluation.

The Fund may invest in companies of any size, across the entire market capitalization spectrum including smaller and midsize companies. The Fund may invest up to 25% of its total assets in foreign securities. The Fund may also invest in equity real estate investment trusts (REITs).

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund invests most of its assets in equity securities of companies the Fund's investment manager believes are undervalued at the time of purchase but that have the potential for capital appreciation.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Smaller and Midsize Companies

Securities issued by smaller and midsize companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development, and limited or less developed product lines and markets. In addition, smaller and midsize companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

(800) DIAL BEN/342-5236

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

franklintempleton.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Class A Annual Total Returns

Bar Chart Does Not Reflect Sales Loads [Text]

rr_BarChartDoesNotReflectSalesLoads

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	Q3'09	19.66%
Worst Quarter:	Q4'08	-22.67%

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Class A

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

5.50%

^[1]

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

^[1]

Management fees

rr_ManagementFeesOverAssets

0.47%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other expenses

rr_OtherExpensesOverAssets

0.20%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.05%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.97%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.05%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.92%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 639

3 years

rr_ExpenseExampleYear03

837

5 years

rr_ExpenseExampleYear05

1,053

10 years

rr_ExpenseExampleYear10

$ 1,672

2008

rr_AnnualReturn2008

(36.01%)

2009

rr_AnnualReturn2009

22.59%

2010

rr_AnnualReturn2010

21.85%

2011

rr_AnnualReturn2011

(6.36%)

2012

rr_AnnualReturn2012

15.65%

2013

rr_AnnualReturn2013

36.61%

2014

rr_AnnualReturn2014

0.73%

2015

rr_AnnualReturn2015

(9.42%)

2016

rr_AnnualReturn2016

20.45%

2017

rr_AnnualReturn2017

12.44%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

19.66%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(22.67%)

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Class C

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

^[4]

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

^[4]

Management fees

rr_ManagementFeesOverAssets

0.47%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other expenses

rr_OtherExpensesOverAssets

0.20%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.05%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.72%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.05%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.67%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 270

3 years

rr_ExpenseExampleYear03

537

5 years

rr_ExpenseExampleYear05

929

10 years

rr_ExpenseExampleYear10

2,030

1 Year

rr_ExpenseExampleNoRedemptionYear01

170

3 Years

rr_ExpenseExampleNoRedemptionYear03

537

5 Years

rr_ExpenseExampleNoRedemptionYear05

929

10 Years

rr_ExpenseExampleNoRedemptionYear10

$ 2,030

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Class R

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.47%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

0.50%

Other expenses

rr_OtherExpensesOverAssets

0.20%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.05%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.22%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.05%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.17%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 119

3 years

rr_ExpenseExampleYear03

382

5 years

rr_ExpenseExampleYear05

666

10 years

rr_ExpenseExampleYear10

$ 1,476

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Class R6

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.47%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.10%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.05%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.62%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.08%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.54%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 55

3 years

rr_ExpenseExampleYear03

191

5 years

rr_ExpenseExampleYear05

338

10 years

rr_ExpenseExampleYear10

$ 768

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.47%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.20%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.05%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.72%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.05%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.67%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 68

3 years

rr_ExpenseExampleYear03

225

5 years

rr_ExpenseExampleYear05

396

10 years

rr_ExpenseExampleYear10

$ 892

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Return Before Taxes | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Balance Sheet Investment Fund

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

Past 1 year

rr_AverageAnnualReturnYear01

5.98%

Past 5 years

rr_AverageAnnualReturnYear05

9.73%

Past 10 years

rr_AverageAnnualReturnYear10

5.11%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Return Before Taxes | Class C

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

10.58%

Past 5 years

rr_AverageAnnualReturnYear05

10.21%

Past 10 years

rr_AverageAnnualReturnYear10

4.94%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Return Before Taxes | Class R

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

12.15%

Past 5 years

rr_AverageAnnualReturnYear05

10.76%

Past 10 years

rr_AverageAnnualReturnYear10

5.51%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Return Before Taxes | Class R6

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

12.84%

Past 10 years

rr_AverageAnnualReturnYear10

Since Inception

rr_AverageAnnualReturnSinceInception

9.72%

^[5]

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Return Before Taxes | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

12.71%

Past 5 years

rr_AverageAnnualReturnYear05

11.31%

Past 10 years

rr_AverageAnnualReturnYear10

6.15%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | After Taxes on Distributions | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Balance Sheet Investment Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Past 1 year

rr_AverageAnnualReturnYear01

4.08%

Past 5 years

rr_AverageAnnualReturnYear05

6.78%

Past 10 years

rr_AverageAnnualReturnYear10

3.16%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | After Taxes on Distributions and Sales | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Balance Sheet Investment Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

Past 1 year

rr_AverageAnnualReturnYear01

4.93%

Past 5 years

rr_AverageAnnualReturnYear05

7.23%

Past 10 years

rr_AverageAnnualReturnYear10

3.81%

Franklin Value Investors Trust-24 | Franklin Balance Sheet Investment Fund | Russell 3000® Value Index (index reflects no deduction for fees, expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

13.19%

Past 5 years

rr_AverageAnnualReturnYear05

13.95%

Past 10 years

rr_AverageAnnualReturnYear10

7.19%

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[2] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[3] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. In addition, the transfer agent has contractually agreed to cap transfer agency fees for Class R6 shares of the Fund so that transfer agency fees for the class do not exceed 0.03%, until February 28, 2019. For Class R6, the “Fee waiver and/or expense reimbursement” and “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” line items have been restated to reflect the current fee waivers and/or expense reimbursements for Class R6 for the upcoming fiscal year. Consequently, for Class R6, the “Total annual Fund operating expenses after fee waiver and/or expense reimbursement” differ from the ratio of expenses to average net assets (net of waiver and payments by affiliates) shown in the Financial Highlights. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[4] Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date. Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes. Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods. (See “Your Account – Choosing a Shares Class – Sales Charges - Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

[5] Since inception May 1, 2013.

XML

Fund Summary

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund

Investment Goal

High total return, of which capital appreciation and income are components.

Fees and Expenses of the Fund

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 and Advisor Class shares.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees {- Franklin MicroCap Value Fund} - Franklin Value Investors Trust-24 - Franklin MicroCap Value Fund	Class A	[1]	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%		none	none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	none		none	none

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Annual Operating Expenses {- Franklin MicroCap Value Fund} - Franklin Value Investors Trust-24 - Franklin MicroCap Value Fund		Class A	Class R6		Advisor Class
Management fees		0.75%	0.75%		0.75%
Distribution and service (12b-1) fees		0.24%	none		none
Other expenses		0.17%	0.07%	[1]	0.17%
Acquired fund fees and expenses	[2]	0.01%	0.01%		0.01%
Total annual Fund operating expenses	[2]	1.17%	0.83%	[1]	0.93%
Fee waiver and/or expense reimbursement	[3]	(0.01%)	(0.01%)		(0.01%)
Total annual Fund operating expenses after fee waiver and/or expense reimbursement	[2],[3]	1.16%	0.82%	[1]	0.92%

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example {- Franklin MicroCap Value Fund} - Franklin Value Investors Trust-24 - Franklin MicroCap Value Fund - USD ($)	Class A	Class R6	Advisor Class
1 year	$ 662	$ 84	$ 94
3 years	900	264	295
5 years	1,157	460	514
10 years	$ 1,892	$ 1,025	$ 1,143

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 8.82% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of microcap companies. For purposes of this investment strategy, the Fund considers microcap companies as companies with market capitalizations (share price times the number of shares of common stock outstanding) under $500 million at the time of purchase.

The Fund generally invests in equity securities of companies that the Fund’s investment manager believes are undervalued at the time of purchase and have the potential for capital appreciation. The equity securities bought by the Fund are typically purchased at a low price relative to book value. The Fund invests predominantly in common stocks. A stock price is undervalued, or is a “value,” when it trades at less than the price at which the investment manager believes it would trade if the market reflected all factors relating to the company’s worth. The Fund may also invest in equity real estate investment trusts (REITs).

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

The Fund may invest up to 25% of its total assets in foreign securities.

Principal Risks

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Smaller and Microcap Companies

Securities issued by smaller companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans. The markets for securities issued by smaller companies also tend to be less liquid than the markets for securities issued by larger companies. The risks described above may be heightened for microcap companies.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Performance

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Class A Annual Total Returns

Best Quarter:	Q2'09	26.98%
Worst Quarter:	Q4'08	-21.22%

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Average Annual Total Returns{- Franklin MicroCap Value Fund} - Franklin Value Investors Trust-24 - Franklin MicroCap Value Fund	Past 1 year	Past 5 years	Past 10 years	Since Inception	[1]
Class A | Return Before Taxes	2.01%	9.72%	7.61%
Class A | After Taxes on Distributions	0.27%	7.45%	5.97%
Class A | After Taxes on Distributions and Sales	2.57%	7.38%	5.93%
Class R6 | Return Before Taxes	8.60%			10.32%
Advisor Class | Return Before Taxes	8.48%	11.30%	8.52%
Russell 2000 Value Index (index reflects no deduction for fees, expenses or taxes)	7.84%	13.01%	8.17%

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[1] Other expenses for Class R6 have been restated to reflect current fiscal year fees and expenses. Consequently, the total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights.

[2] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[3] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[1] Since inception May 1, 2013.

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Registrant Name

dei_EntityRegistrantName

FRANKLIN VALUE INVESTORS TRUST

Prospectus Date

rr_ProspectusDate

Sep. 10, 2018

Risk/Return [Heading]

rr_RiskReturnHeading

Fund Summary

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund

Risk/Return:

rr_RiskReturnAbstract

Objective [Heading]

rr_ObjectiveHeading

Investment Goal

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

High total return, of which capital appreciation and income are components.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 and Advisor Class shares.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 8.82% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

8.82%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of microcap companies. For purposes of this investment strategy, the Fund considers microcap companies as companies with market capitalizations (share price times the number of shares of common stock outstanding) under $500 million at the time of purchase.

The Fund generally invests in equity securities of companies that the Fund’s investment manager believes are undervalued at the time of purchase and have the potential for capital appreciation. The equity securities bought by the Fund are typically purchased at a low price relative to book value. The Fund invests predominantly in common stocks. A stock price is undervalued, or is a “value,” when it trades at less than the price at which the investment manager believes it would trade if the market reflected all factors relating to the company’s worth. The Fund may also invest in equity real estate investment trusts (REITs).

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

The Fund may invest up to 25% of its total assets in foreign securities.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of microcap companies.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Smaller and Microcap Companies

Securities issued by smaller companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans. The markets for securities issued by smaller companies also tend to be less liquid than the markets for securities issued by larger companies. The risks described above may be heightened for microcap companies.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

(800) DIAL BEN/342-5236

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

franklintempleton.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Class A Annual Total Returns

Bar Chart Does Not Reflect Sales Loads [Text]

rr_BarChartDoesNotReflectSalesLoads

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	Q2'09	26.98%
Worst Quarter:	Q4'08	-21.22%

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Class A

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

5.50%

^[1]

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

^[1]

Management fees

rr_ManagementFeesOverAssets

0.75%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

0.24%

Other expenses

rr_OtherExpensesOverAssets

0.17%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.01%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.17%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.01%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.16%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 662

3 years

rr_ExpenseExampleYear03

900

5 years

rr_ExpenseExampleYear05

1,157

10 years

rr_ExpenseExampleYear10

$ 1,892

2008

rr_AnnualReturn2008

(30.26%)

2009

rr_AnnualReturn2009

27.79%

2010

rr_AnnualReturn2010

22.07%

2011

rr_AnnualReturn2011

(0.14%)

2012

rr_AnnualReturn2012

20.54%

2013

rr_AnnualReturn2013

35.67%

2014

rr_AnnualReturn2014

(3.77%)

2015

rr_AnnualReturn2015

(7.33%)

2016

rr_AnnualReturn2016

28.86%

2017

rr_AnnualReturn2017

8.22%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

26.98%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(21.22%)

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Class R6

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.75%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.07%

^[4]

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.01%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.83%

^[2],[4]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.01%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.82%

^[2],[3],[4]

1 year

rr_ExpenseExampleYear01

$ 84

3 years

rr_ExpenseExampleYear03

264

5 years

rr_ExpenseExampleYear05

460

10 years

rr_ExpenseExampleYear10

$ 1,025

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.75%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.17%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.01%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.93%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.01%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.92%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 94

3 years

rr_ExpenseExampleYear03

295

5 years

rr_ExpenseExampleYear05

514

10 years

rr_ExpenseExampleYear10

$ 1,143

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Return Before Taxes | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin MicroCap Value Fund

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

Past 1 year

rr_AverageAnnualReturnYear01

2.01%

Past 5 years

rr_AverageAnnualReturnYear05

9.72%

Past 10 years

rr_AverageAnnualReturnYear10

7.61%

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Return Before Taxes | Class R6

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

8.60%

Past 10 years

rr_AverageAnnualReturnYear10

Since Inception

rr_AverageAnnualReturnSinceInception

10.32%

^[5]

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Return Before Taxes | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

8.48%

Past 5 years

rr_AverageAnnualReturnYear05

11.30%

Past 10 years

rr_AverageAnnualReturnYear10

8.52%

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | After Taxes on Distributions | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin MicroCap Value Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Past 1 year

rr_AverageAnnualReturnYear01

0.27%

Past 5 years

rr_AverageAnnualReturnYear05

7.45%

Past 10 years

rr_AverageAnnualReturnYear10

5.97%

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | After Taxes on Distributions and Sales | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin MicroCap Value Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

Past 1 year

rr_AverageAnnualReturnYear01

2.57%

Past 5 years

rr_AverageAnnualReturnYear05

7.38%

Past 10 years

rr_AverageAnnualReturnYear10

5.93%

Franklin Value Investors Trust-24 | Franklin MicroCap Value Fund | Russell 2000 Value Index (index reflects no deduction for fees, expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

7.84%

Past 5 years

rr_AverageAnnualReturnYear05

13.01%

Past 10 years

rr_AverageAnnualReturnYear10

8.17%

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[2] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[3] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[4] Other expenses for Class R6 have been restated to reflect current fiscal year fees and expenses. Consequently, the total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights.

[5] Since inception May 1, 2013.

XML

Fund Summary

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund

Investment Goal

Long-term total return.

Fees and Expenses of the Fund

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees {- Franklin Small Cap Value Fund} - Franklin Value Investors Trust-24 - Franklin Small Cap Value Fund	Class A	[1]	Class C	[2]	Class R	Class R6	Advisor Class
Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)	5.50%		none		none	none	none
Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)	none		1.00%		none	none	none

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Annual Operating Expenses {- Franklin Small Cap Value Fund} - Franklin Value Investors Trust-24 - Franklin Small Cap Value Fund		Class A	Class C	Class R	Class R6		Advisor Class
Management fees		0.57%	0.57%	0.57%	0.57%		0.57%
Distribution and service (12b-1) fees		0.25%	1.00%	0.50%	none		none
Other expenses		0.23%	0.23%	0.23%	0.04%	[1]	0.23%
Acquired fund fees and expenses	[2]	0.02%	0.02%	0.02%	0.02%		0.02%
Total annual Fund operating expenses	[2]	1.07%	1.82%	1.32%	0.63%	[1]	0.82%
Fee waiver and/or expense reimbursement	[3]	(0.02%)	(0.02%)	(0.02%)	(0.02%)		(0.02%)
Total annual Fund operating expenses after fee waiver and/or expense reimbursement	[2],[3]	1.05%	1.80%	1.30%	0.61%	[1]	0.80%

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example {- Franklin Small Cap Value Fund} - Franklin Value Investors Trust-24 - Franklin Small Cap Value Fund - USD ($)	Class A	Class C	Class R	Class R6	Advisor Class
1 year	$ 651	$ 283	$ 132	$ 62	$ 82
3 years	870	571	416	200	260
5 years	1,106	984	722	349	453
10 years	$ 1,783	$ 2,137	$ 1,590	$ 785	$ 1,013

If you do not sell your shares:

Expense Example, No Redemption {- Franklin Small Cap Value Fund}	Franklin Value Investors Trust-24 Franklin Small Cap Value Fund Class C USD ($)
1 Year	$ 183
3 Years	571
5 Years	984
10 Years	$ 2,137

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 33.38% of the average value of its portfolio.

Principal Investment Strategies

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of small-capitalization (small-cap) companies. Small-cap companies are companies with market capitalizations (the total market value of a company’s outstanding stock) not exceeding either: 1) the highest market capitalization in the Russell 2000 Index; or 2) the 12-month average of the highest market capitalization in the Russell 2000 Index, whichever is greater, at the time of purchase. As of the most recent reconstitution, the highest market capitalization in the Russell 2000 Index was $4.37 billion.

The Fund generally invests in equity securities that the Fund’s investment manager believes are undervalued at the time of purchase and have the potential for capital appreciation. The Fund invests predominantly in common stocks. A stock price is undervalued, or is a “value,” when it trades at less than the price at which the investment manager believes it would trade if the market reflected all factors relating to the company’s worth. Following this strategy, the Fund invests in companies that the investment manager believes have, for example: stock prices that are low relative to current, or historical or future earnings, book value, cash flow or sales; recent sharp price declines but the potential for good long-term earnings prospects; and valuable intangibles not reflected in the stock price. The Fund also may invest in equity real estate investment trusts (REITs).

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

The Fund may invest up to 25% of its total assets in foreign securities.

Principal Risks

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Smaller Companies

Securities issued by smaller companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Performance

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Class A Annual Total Returns

Best Quarter:	Q2'09	23.01%
Worst Quarter:	Q4'08	-27.07%

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Average Annual Total Returns{- Franklin Small Cap Value Fund} - Franklin Value Investors Trust-24 - Franklin Small Cap Value Fund	Past 1 year	Past 5 years	Past 10 years	Since Inception	[1]
Class A | Return Before Taxes	4.27%	10.91%	7.95%
Class A | After Taxes on Distributions	2.15%	8.90%	6.79%
Class A | After Taxes on Distributions and Sales	3.97%	8.33%	6.29%
Class C | Return Before Taxes	8.81%	11.42%	7.81%
Class R | Return Before Taxes	10.36%	11.98%	8.35%
Class R6 | Return Before Taxes	11.12%			12.27%
Advisor Class | Return Before Taxes	10.96%	12.55%	8.90%
Russell 2000 Value Index (index reflects no deduction for fees, expenses or taxes)	7.84%	13.01%	8.17%

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[2] Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date. Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes. Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods. (See “Your Account – Choosing a Shares Class – Sales Charges - Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

[1] Other expenses for Class R6 have been restated to reflect current fiscal year fees and expenses. Consequently, the total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights.

[2] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[3] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[1] Since inception May 1, 2013.

XML

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

Registrant Name

dei_EntityRegistrantName

FRANKLIN VALUE INVESTORS TRUST

Prospectus Date

rr_ProspectusDate

Sep. 10, 2018

Risk/Return [Heading]

rr_RiskReturnHeading

Fund Summary

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund

Risk/Return:

rr_RiskReturnAbstract

Objective [Heading]

rr_ObjectiveHeading

Investment Goal

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

Long-term total return.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds. More information about these and other discounts is available from your financial professional and under “Your Account” on page 62 in the Fund's Prospectus and under “Buying and Selling Shares” on page 55 of the Fund’s Statement of Additional Information. In addition, more information about sales charge discounts and waivers for purchases of shares through specific financial intermediaries is set forth in Appendix A - "Intermediary Sales Charge Discounts and Waivers" to the Fund's prospectus.

Please note that the tables and examples below do not reflect any transaction fees that may be charged by financial intermediaries, or commissions that a shareholder may be required to pay directly to its financial intermediary when buying or selling Class R6 or Advisor Class shares.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 33.38% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

33.38%

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts in Class A if you and your family invest, or agree to invest in the future, at least $50,000 in Franklin Templeton funds.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of the period. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the fee waivers and/or expense reimbursements by management for the 1 Year numbers only. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example, No Redemption, By Year, Caption [Text]

rr_ExpenseExampleNoRedemptionByYearCaption

If you do not sell your shares:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of small-capitalization (small-cap) companies. Small-cap companies are companies with market capitalizations (the total market value of a company’s outstanding stock) not exceeding either: 1) the highest market capitalization in the Russell 2000 Index; or 2) the 12-month average of the highest market capitalization in the Russell 2000 Index, whichever is greater, at the time of purchase. As of the most recent reconstitution, the highest market capitalization in the Russell 2000 Index was $4.37 billion.

The Fund generally invests in equity securities that the Fund’s investment manager believes are undervalued at the time of purchase and have the potential for capital appreciation. The Fund invests predominantly in common stocks. A stock price is undervalued, or is a “value,” when it trades at less than the price at which the investment manager believes it would trade if the market reflected all factors relating to the company’s worth. Following this strategy, the Fund invests in companies that the investment manager believes have, for example: stock prices that are low relative to current, or historical or future earnings, book value, cash flow or sales; recent sharp price declines but the potential for good long-term earnings prospects; and valuable intangibles not reflected in the stock price. The Fund also may invest in equity real estate investment trusts (REITs).

The types of companies the Fund may invest in include, among other things, those that may be considered out of favor due to actual or perceived cyclical or secular challenges, are experiencing temporal setbacks, diminished expectations, mismanagement or undermanagement, or are financially stressed.

The Fund may invest up to 25% of its total assets in foreign securities.

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the Fund invests at least 80% of its net assets in investments of small-capitalization (small-cap) companies.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

You could lose money by investing in the Fund. Mutual fund shares are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency of the U.S. government.

Market

The market values of securities or other investments owned by the Fund will go up or down, sometimes rapidly or unpredictably. The market value of a security or other investment may be reduced by market activity or other results of supply and demand unrelated to the issuer. This is a basic risk associated with all investments. When there are more sellers than buyers, prices tend to fall. Likewise, when there are more buyers than sellers, prices tend to rise.

Stock prices tend to go up and down more dramatically than those of debt securities. A slower-growth or recessionary economic environment could have an adverse effect on the prices of the various stocks held by the Fund.

Value Style Investing

A value stock may not increase in price as anticipated by the investment manager if other investors fail to recognize the company's value and bid up the price, the markets favor faster-growing companies, or the factors that the investment manager believes will increase the price of the security do not occur or do not have the anticipated effect.

Cyclical stocks in which the Fund may invest tend to lose value more quickly in periods of anticipated economic downturns than non-cyclical stocks. Companies that may be considered out of favor, particularly companies emerging from bankruptcy, may tend to lose value more quickly in periods of anticipated economic downturns, may have difficulty retaining customers and suppliers and, during economic downturns, may have difficulty paying their debt obligations or finding additional financing.

Smaller Companies

Securities issued by smaller companies may be more volatile in price than those of larger companies, involve substantial risks and should be considered speculative. Such risks may include greater sensitivity to economic conditions, less certain growth prospects, lack of depth of management and funds for growth and development and limited or less developed product lines and markets. In addition, smaller companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations, or may have difficulty in repaying any loans.

Foreign Securities (non U.S.)

Investing in foreign securities typically involves more risks than investing in U.S. securities, including risks related to currency exchange rates and policies, country or government specific issues, less favorable trading practices or regulation and greater price volatility. Certain of these risks also may apply to securities of U.S. companies with significant foreign operations.

Real Estate Investment Trusts (REITs)

A REIT's performance depends on the types, values and locations of the properties it owns and how well those properties are managed. A decline in rental income may occur because of extended vacancies, increased competition from other properties, tenants' failure to pay rent or poor management. Because a REIT may be invested in a limited number of projects or in a particular market segment, it may be more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

Management

The Fund is subject to management risk because it is an actively managed investment portfolio. The Fund's investment manager applies investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these decisions will produce the desired results.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. You can obtain updated performance information at franklintempleton.com or by calling (800) DIAL BEN/342-5236.

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Class A shares. The table shows how the Fund's average annual returns for 1 year, 5 years, 10 years or since inception, as applicable, compared with those of a broad measure of market performance.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

(800) DIAL BEN/342-5236

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

franklintempleton.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Class A Annual Total Returns

Bar Chart Does Not Reflect Sales Loads [Text]

rr_BarChartDoesNotReflectSalesLoads

Sales charges are not reflected in the bar chart, and if those charges were included, returns would be less than those shown.

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

Best Quarter:	Q2'09	23.01%
Worst Quarter:	Q4'08	-27.07%

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns
(figures reflect sales charges)

For the periods ended December 31, 2017

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

The figures in the average annual total returns table above reflect the Class A maximum front-end sales charge of 5.75% that was in effect prior to September 10, 2018. Class A shares, however, currently are subject to a maximum front-end sales charge of 5.50% effective on September 10, 2018. If the maximum front-end sales charge of 5.50% was reflected, performance for Class A in the average annual total returns table would be higher.

The after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown only for Class A and after-tax returns for other classes will vary.

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Class A

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

5.50%

^[1]

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

^[1]

Management fees

rr_ManagementFeesOverAssets

0.57%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other expenses

rr_OtherExpensesOverAssets

0.23%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.07%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.05%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 651

3 years

rr_ExpenseExampleYear03

870

5 years

rr_ExpenseExampleYear05

1,106

10 years

rr_ExpenseExampleYear10

$ 1,783

2008

rr_AnnualReturn2008

(32.78%)

2009

rr_AnnualReturn2009

31.57%

2010

rr_AnnualReturn2010

27.00%

2011

rr_AnnualReturn2011

(3.66%)

2012

rr_AnnualReturn2012

18.35%

2013

rr_AnnualReturn2013

34.72%

2014

rr_AnnualReturn2014

none

2015

rr_AnnualReturn2015

(7.83%)

2016

rr_AnnualReturn2016

29.59%

2017

rr_AnnualReturn2017

10.63%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

23.01%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(27.07%)

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Class C

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

^[4]

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

^[4]

Management fees

rr_ManagementFeesOverAssets

0.57%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other expenses

rr_OtherExpensesOverAssets

0.23%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.82%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.80%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 283

3 years

rr_ExpenseExampleYear03

571

5 years

rr_ExpenseExampleYear05

984

10 years

rr_ExpenseExampleYear10

2,137

1 Year

rr_ExpenseExampleNoRedemptionYear01

183

3 Years

rr_ExpenseExampleNoRedemptionYear03

571

5 Years

rr_ExpenseExampleNoRedemptionYear05

984

10 Years

rr_ExpenseExampleNoRedemptionYear10

$ 2,137

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Class R

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.57%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

0.50%

Other expenses

rr_OtherExpensesOverAssets

0.23%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

1.32%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

1.30%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 132

3 years

rr_ExpenseExampleYear03

416

5 years

rr_ExpenseExampleYear05

722

10 years

rr_ExpenseExampleYear10

$ 1,590

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Class R6

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.57%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.04%

^[5]

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.63%

^[2],[5]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.61%

^[2],[3],[5]

1 year

rr_ExpenseExampleYear01

$ 62

3 years

rr_ExpenseExampleYear03

200

5 years

rr_ExpenseExampleYear05

349

10 years

rr_ExpenseExampleYear10

$ 785

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Sales Charge (Load) Imposed on Purchases (as percentage of offering price)

rr_MaximumCumulativeSalesChargeOverOfferingPrice

none

Maximum Deferred Sales Charge (Load) (as percentage of the lower of original purchase price or sale proceeds)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Management fees

rr_ManagementFeesOverAssets

0.57%

Distribution and service (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other expenses

rr_OtherExpensesOverAssets

0.23%

Acquired fund fees and expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Total annual Fund operating expenses

rr_ExpensesOverAssets

0.82%

^[2]

Fee waiver and/or expense reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.02%)

^[3]

Total annual Fund operating expenses after fee waiver and/or expense reimbursement

rr_NetExpensesOverAssets

0.80%

^[2],[3]

1 year

rr_ExpenseExampleYear01

$ 82

3 years

rr_ExpenseExampleYear03

260

5 years

rr_ExpenseExampleYear05

453

10 years

rr_ExpenseExampleYear10

$ 1,013

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Return Before Taxes | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Small Cap Value Fund

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

Past 1 year

rr_AverageAnnualReturnYear01

4.27%

Past 5 years

rr_AverageAnnualReturnYear05

10.91%

Past 10 years

rr_AverageAnnualReturnYear10

7.95%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Return Before Taxes | Class C

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

8.81%

Past 5 years

rr_AverageAnnualReturnYear05

11.42%

Past 10 years

rr_AverageAnnualReturnYear10

7.81%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Return Before Taxes | Class R

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

10.36%

Past 5 years

rr_AverageAnnualReturnYear05

11.98%

Past 10 years

rr_AverageAnnualReturnYear10

8.35%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Return Before Taxes | Class R6

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

11.12%

Past 10 years

rr_AverageAnnualReturnYear10

Since Inception

rr_AverageAnnualReturnSinceInception

12.27%

^[6]

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Return Before Taxes | Advisor Class

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

10.96%

Past 5 years

rr_AverageAnnualReturnYear05

12.55%

Past 10 years

rr_AverageAnnualReturnYear10

8.90%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | After Taxes on Distributions | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Small Cap Value Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Past 1 year

rr_AverageAnnualReturnYear01

2.15%

Past 5 years

rr_AverageAnnualReturnYear05

8.90%

Past 10 years

rr_AverageAnnualReturnYear10

6.79%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | After Taxes on Distributions and Sales | Class A

Risk/Return:

rr_RiskReturnAbstract

Column

rr_AverageAnnualReturnColumnName

Franklin Small Cap Value Fund

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

Past 1 year

rr_AverageAnnualReturnYear01

3.97%

Past 5 years

rr_AverageAnnualReturnYear05

8.33%

Past 10 years

rr_AverageAnnualReturnYear10

6.29%

Franklin Value Investors Trust-24 | Franklin Small Cap Value Fund | Russell 2000 Value Index (index reflects no deduction for fees, expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

Past 1 year

rr_AverageAnnualReturnYear01

7.84%

Past 5 years

rr_AverageAnnualReturnYear05

13.01%

Past 10 years

rr_AverageAnnualReturnYear10

8.17%

[1] There is a 1% contingent deferred sales charge that applies to investments of $1 million or more (see "Investments of $1 Million or More" under "Choosing a Share Class") and purchases by certain retirement plans without an initial sales charge on shares sold within 18 months of purchase.

[2] Total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights, which reflect the operating expenses of the Fund and do not include acquired fund fees and expenses.

[3] The investment manager has contractually agreed in advance to reduce its fee as a result of the Fund's investment in a Franklin Templeton money fund (acquired fund) for the next 12-month period. Contractual fee waiver and/or expense reimbursement agreements may not be changed or terminated during the time period set forth above.

[4] Effective October 5, 2018, Class C shares that have been held for 10 years or more will convert automatically into Class A shares later in the month of October 2018 and will be subject to Class A shares’ lower Rule 12b-1 fees. Thereafter, Class C shares of the Fund will convert automatically to Class A shares of the Fund on a monthly basis in the month of, or the month following, the 10-year anniversary of the Class C shares’ purchase date. Such conversions will be on the basis of the relative net asset values of the two classes, will not be subject to Class A shares’ sales charges and are not expected to be a taxable event for federal income tax purposes. Certain shares that are invested through retirement plans, omnibus accounts or in certain other instances may not automatically convert if the financial intermediary does not have the ability to track purchases to credit individual shareholders’ holding periods. (See “Your Account – Choosing a Shares Class – Sales Charges - Class C – Automatic Conversion of Class C Shares to Class A Shares After 10-Year Holding Period” for more information.)

[5] Other expenses for Class R6 have been restated to reflect current fiscal year fees and expenses. Consequently, the total annual Fund operating expenses differ from the ratio of expenses to average net assets shown in the Financial Highlights.

[6] Since inception May 1, 2013.

XML

Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Registrant Name	dei_EntityRegistrantName	FRANKLIN VALUE INVESTORS TRUST
Prospectus Date	rr_ProspectusDate	Sep. 10, 2018
Document Creation Date	dei_DocumentCreationDate	Sep. 10, 2018