There is another program out there that allows resellers to create resellers. I am thinking it may have been called WHMReseller or something like that, however I don't remember exactly and don't have it bookmarked. This would only work if you found a company that used the software or got your own server and offered it to others. VPS is probably your best option. Another thought is some hosting companies will allow you to resell there reseller accounts for either a commission or they will take money off the cost of your hosting.
I wouldn't suggest creating too many reseller accounts on a VPS as a VPS is intended for 1 or 2 high usage sites and not to sell a lot of web hosting. Of course, it's perfectly fine for low usage sites. I suggest you don't sell resellers until you can afford a dedicated server.
MediaLayer, LLC - www.medialayer.comLearn how we can make your website load faster, translating to better conversion rates for your business!
The pioneers of optimized web hosting, featuring LiteSpeed Web Server & SSD Storage - Celebrating 10 Years in Business
I had forgot i made that thread, and that it had went so long..hehe
Might i suggest ultraunix.net they provide this service i think however, you will need to ask them about it via email, They were doing a website redesign, but havent got it finished yet. Anyways, they should give you the link for it.