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What are the advantages of a VPS ?

A VPS gives you the functions and features of a managed dedicated server but without the price. You have full control of your VPS including full root access to install your own applications, which isn't possible on a shared hosting environment.
Since a VPS is an isolated hosting environment it allows you more freedom to run scripts that aren't allowed on a shared hosting environment such as sending out a mailing list and since you get your own mail server you don't have to worry about other users blacklisting the mail server IP address.
A VPS also allows you to create reseller accounts if you are a reseller, and more.

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