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In her short career, Katy Perry has taken the pop music world by storm and has broken records with multiplatinum songs like "I Kissed a Girl." Now, the 27-year-old phenom plans to further increase her breadth in the music industry by founding her own record label.

VIDEO: Katy Perry Retraces Her Journey in Upcoming Film

According to The Hollywood Reporter, Perry is planning to launch her own record label in the near future that has not yet been assigned a name.

"I'm preparing for it now," she revealed. "When this record label does come to fruition, I'm going to try and avoid the things that take away any fighting chance for an artist to have financial success. As people are coming to me with opportunities, I'm thinking, 'How would I want to be treated?'"

VIDEO: What Katy Perry Thinks Makes Her Hot

As a once-struggling musician, Perry understands the hardships that aspiring artists undergo on their journey to "make it." Now signed to Capitol Records, the mega pop star was once dropped from two record labels earlier in her career.

Perry revisits her early days in her new biographical film Part of Me, which will be released this summer.

VIDEO: Katy Perry Smooches Mystery Sailor

"It was an idea that snowballed in the greatest way," she said to THR of capturing her day-to-day life on video for the film. The Teenage Dream singer added that the goal of the mission was to "pack a suitcase, spend a year on the road, bring a camera, a boom, sit in a corner and just catch it all."