GoDaddy is one of the largest hosting companies in the US and can be a great place to get started with a web site. I've had hosting accounts with them for years and have, for the most part, been satisfied. I've moved on to other services for most of my sites, but GoDaddy is still home to several Joomla installations of mine.
So, if you are thinking about setting up a Joomla site on GoDaddy, you have several options. First of all, GoDaddy now has a "one-click" (well, sure, it's more than one click) installation of Joomla now which can work quite well. They have a "wizard" on their hosting service that can walk you through the process.
But, if you want to do it yourself via FTP (a skill all Joomla people should develop), here is a great guide in pdf format from the Joomla forums to installing Joomla on GoDaddy.http://forum.joomla.org/index.php?action=dlattach;topic=31497.0;attach=16231