The Cheapest, Easiest & Low-Risk Way to Start a Hosting Company

A typical question about starting a hosting business:
I want to own my own hosting company offering shared hosting, reseller hosting and domain name services. I am actually thinking of owning the servers at my location and host everything through them.
I want a cPanel hosting (linux based).
Is this a good way to start a hosting business? I will try to slowly gain customers and to advertise on the internet using Google Adwords and Microsoft Adcenter and hopefully they are good at bringing in results.