Some steps you should consider while starting a web hosting business are given below :
1. Try to gain all the required knowledge about the hosting packages you will be offering (As much as possible)
2. Check the kind of web hosting market available in the Country you are targeting for business.
3. Check the kind of competitors you will have and the way they have been doing business.
4. Choose a good domain name, launch a website and post useful and unique content so that you get more backlinks for the website easily
Hope this helps..