Once you get your first reseller account, you will be given access to all the tools and services you need to manage your following reseller packages you purchase to host your clients. You would purchase one package for each person you wanted to act as the web host for. If you need a hosting account yourself, then I would save them your first one and then start reselling with your second one.
You can also check these links for more information:
http://www.lunarpages.com/reseller-hosting/https://support.lunarpages.com/knowledge_bases/show/102
