I have too toyed with that idea for some time, and had helped my company set up some of such websites.
Here are some tips and tricks to creating your very own website!
1)Think of a domain name that suits your site best!
To check for available domain names, you can do a search online by going to any domain selling site.
Recommended cheap and affordable domains:
GoDaddy.com
www.GoDaddy.com
Domain Sale! $7.49 .com at GoDaddy
Take $10 Off Your $50 Order! Shop GoDaddy.com Now!
Fat Cow
A Special $10 off "moo"pon -- Just for you!
$10 off web hosting by FatCow!
The Original $66 FatCow Plan - Unlimited Disk Space, Unlimited Transfer, Unlimited E-mails & Site building tools.
2)Check for any coupon codes or promotions, like cheaper deal for first time sign ups or transfer your existing domain at a cheaper fee, etc
Here are some coupon codes that i found over the net:
3)After your domain name is settled, you might want to find a webhosting company to host your site!
Tip: You may want to build your site offline first, before signing up for your webhosting package, as we might take days, or even months to build that site! You might be spending quite a fair bit before you manage to have your site go live! *glurps*
Some Great webhosting companies can be found here:
Same thing, look for coupon codes if any,
Once you have your domain + Web host + Web Content, you now have your personal Website!
Of course, if you can't be bothered with paying for your own website, your can always consider free ones like mine here, using blogspot, or ...


3)What kind of clothes are good to invest in?