Drupal Hosts : Site Planning advice needed

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This is a drupal question asked by mirrie on 25 June 2009

I am a novice and need some advice to potentially save a ton of time in the future:
a dance studio that has dependencies in two countries with separate domains ( .ch and .de) . It needs a website that has basically the same functionality but different users and different content. (the sites would be hosted on the same server under the same account). The theme could be the same yet use different logo and backgroundimages. The content that needs to be shared can be neglected.

For the least trouble ahead in the future with maintaining the site, what would be best practice in a case like this and what are the documentations that should I read up on?

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