1) Using a CC company such as worldpay (worldpay.com) you can pretty much have it automated. Theres scripts that can easy tie in with most credit card processors so that you can have this sort of automation. However - there are some problems with instant setup such as *known* fraud orders. You can usually spot a fraud from 100paces.. these would get through with the automation side of things.
2) Starting off can be expensive.. shop around. You may find people that offer special deals to first timers, free months or other insentives. Just shop around
3) first few months are the hardest once you get that first customer it makes it all worth while. Just support them, maybe even offer a few people free hosting so they would "spread the word" that a new host is in town.. Just have some good advertising worked out.
4) From our point of view, people love good support. Returning emails as quick as possible but still answering them detailed and not going off the original question. *knowing you are there for them* is the feature they like the most. Again, this is from experience.
You think one up Coming up with a professional sounding name can take weeks if not months. It's all a part of the process of setting up a business which can also take many months of planning and *lots* of learning.
A business plan should be the very first thing on your plate. It will help you a lot!