This is based on my personal experience so please take it as such.

First to all minors who're interested in starting up their own hosting companies, congratulations for having such ambitious goals. Ambition if used correctly will take you far in life. Now, there's several problems that you need to overcome in order to have any chance of succeeding.

There's a severely mistaken perception of the hosting industry as easy to enter due to low startup costs and software that appears to do everything for you. Get this out of your head now. The hosting industry may be easier than some others to enter but that doesn't mean it's easy because it's far from it. Web hosting is a 24x7 job and entails a lot of responsibilities. As a minor, you likely have school and other time obligations that will intefere with your ability to constantly manage your company because hosting companies do need to be constantly watched and maintained. Do NOT go through with starting a company if you do not have the means of monitoring your infrastructure/clients/etc. either through yourself or others at all times.

Next, please consider your skill level. Depending on your experience with the hosting industry, it is absolutely crucial that your first steps into it accurately reflect how much you know. For instance, if you know your way around servers, you can consider starting off with a VPS or even a dedicated. If you have a good proven business sense but know nothing about servers, starting off with a managed service whether it be a reseller account or managed VPS/dedicated would be smart. If you don't fall into either of the above categories, I would think very carefully before continuing. There's a high probability that your business won't go very far and will just end up losing money. To go back to reality, most minors don't fall into either of the above categories but persistence and learning quickly can make up for that.

And while we're on the point of money, this is really important. Understand the finances involved in starting a successful hosting company. It's not cheap in the slightest and without a smart business plan, you're likely going to be losing money for quite a while. Do some calculations for reasonable expected revenue and see if you can sustain your company. If you don't have a lot of spending money like most minors, start small and build up from there slowly or simply push the idea of a company later into the future. There's plenty of time for to start a company when you have easier access to cash later on.

I just have a few more general lines of guidance. If you're completely set on starting up a hosting company, make sure you're doing it legally where you're located. The process of applying for a business license can also give you a clue whether or not you want to deal with the responsibilities involved. Your clients will be depending on you to provide a good service and to keep their websites online. Act and present yourself professionally and never justify your actions by thinking that you're a minor so it doesn't matter what you do. Run your business like a responsible adult and you'll be treated like one. Ask your family and friends if they'd consider you mature enough to run a company, deal with clients, etc. and take their feedback to heart.

If you find yourself ready to give up on a newly created hosting company, put your clients first and make sure they understand what's going on and receive refunds. Do not run off without saying a word as you're proving yourself incapable to handle responsibility and damaging the perception of the hosting industry and even more so, the idea of a minor being able to run a good hosting company.

In conclusion, there are a lot of things to think about and I've only listed some of the ones I think are more important and apply specifically to minors. If you're not sure even in the slightest whether or not you want to go through with it, please highly consider pushing it to sometime in the future when these obstacles won't be as hard to overcome.

Good luck. Take it slowly and maybe you'll find success in the future.