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I am getting a re-seller plan at a very cheap rate. I want to ask you that do I have to sell the space to other person or can use it to host my single website without anybody knowing? Or the hosting company will ask me to buy my own server?
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Once you rich that I think that you will need to move to the VPS at least to get more independence.
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What are the drawbacks of hosting a website on a re-seller plan?
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I think that support related issues. Do not forget to ask web hosting company regarding the support for the custiomers you will have under your reseller account.