Dedicated web hosting is going to be your businesses next step after shared hosting.  What a dedicated host allows you to do is pretty much rent your very own web server which creates much more room to expand your business.  This allows you to have your very own dedicated web hosting servers. Since you will not be sharing a web server with other websites you will obviously be able to handle much more traffic which is normally the main reason to switch web servers.  You will also be in complete control of your dedicated web hosting servers which can help your reliability and allows for increased customization.  Although there are greater advantages of using a dedicated web server, this also comes with an increase in price as well as more responsibility.

Since you will be in complete control of your web server, you need to make sure that you are ready for the upgrade.  Choosing a dedicated hosting package is not something you want to do unless you understand how to use it.  With a shared hosting plan you will have a team managing your web server for you, but with your own web server you need to realize that you will be in control.  If you are making the money with your website and your traffic keeps increasing, then it may be time to make the switch.