Hi there D.,
In repsonse to Ruth's comments, I myself am a former Miss Teen San Diego USA, Miss San Diego USA and have competed for Miss California USA, although I did not win Miss CA I learned a great deal about myself and how I want my life to be. I am a great warm loving person I love and respect myself and I adore my family and I embrace the positive people I surround myself and my family with.
Pageants can be expensive but I worked hard for sponsor ships, which paid for most of my dresses costumes and entry fees. also you become very educated in the pageant process, you learn a lot about current events, you get scholar ship money for school which I utilized well. It doesnt have to be all about beauty, but learning poise, how to speak well and building self confidence. You can still put your daughter in pageants at the same time teaching her to love who she is and if she doesnt win which doesnt always happen thats okay, we dont always get what we want in life. That is the same with acting, modeling etc. You get rejected quite a bit. It can be a tough business but with the right guidence and strength then anyone can get through it. My two boys do some modeling and commercials here and there, since we have moved here from California I have not pursued it as much yet because the business here isnt as big. But my boys ages 3 & 4 do a lot of fashion shows and some print work when needed. I plan as you do to save all of their money for college also.
Just like the entertainment business, ballet, sports and plays are the same, you dont get chosen for a role or lead dancer or to sit out this game etc it is all rejection for kids, but I tell my boys everytime, GREAT JOB, I praise them for trying and doing their best, i never put them down or make them feel like failures at all.
So anyone who is negative about the business has no idea of it. There are the pros and cons just like any thing in life. But we are the ones who will keep them grounded.
And for those who think that Modeling is expensive, doesnt know one thing about it. Modeling/acting never costs anything at all. kids between 0-5yrs of age only need polaroids or photos of them because they grow so fast and their looks change every month. Once they are older then yes it would be wise to invest in a portfolio. If you ever have to pay for any photots or for classes then walk the other way. If they want to represent your child they will ask for nothing. Only when they book something then you would pay an agent fee of 10-20%.
Hope that helped, My oldest son had a SAG agent in Los Angeles when he was first born until we moved here, and I had an agent for years when I was young. So I am pretty familiar with the business. We are actually trying to get my boys with a New York agency. We can fly for free so I can take them back and forth when needed. But since my 4 yr old is in pre-k right now I have put it on hold and only do local stuff. It is your choice and you will never know what could become of it if you dont try. Remember keep her grounded and be a positive supporter.