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Steer far away..very far. It's cut-throat business with very low margins that get eaten up by customer issues and support. It's doubtful even as a reseller you did well that you would make more than $500-$1000 a month and that's consider success...
Affiliate programs are great. If you do sign up a lot of people and feel that you can simple retain those clients for yourself then go for it. However to start an affiliate program works well. You can offer many options to end-users yet have no hassle with the actual hosting itself. You just sign them up and take your commission.
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