Its very easy to create a image hosting website all you need is some dedication and little understanding of hosting thats all!!!!!!!!!
Here is a guide
1. You need a web hosting service
www.byethost.com is a very good choice it provides vista panel
a large amount of space and bandwidth.
create an account and a database in Mysql
2. You dont need to know coding in php and mysql to make a website their are many free scripts scripteen is a good one easy for starting and very good in functionality and interface.
You can get it here
upload this script through ftp server and install by connecting to database.
Thats all you website is ready !!!!