Installing Laravel on shared hosting is definitely not recommended, and certainly impossible to install normally, since you don't have shell access.
The normal development process is to build your application locally. So install WAMP if you have windows, or MAMP if you have a mac, start up your local server, then open up command prompt / terminal and follow the instructions in the docs for installation. Then, although it's a bad idea, after you install the framework with the 'composer update' command, you can probably FTP everything to your shared hosting.
By the way --- there's little reason to buy shared hosting these days with the existence of the wonderful Digitalocean: digitalocean.com , which basically gives you a SSD VPS with shell access for the incredible price of normal shared hosting ($5 a month)....
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