T.F.
I have modeled most of my life part time and my 18 yr old models occasionally.
First things first........NEVER give anyone ANY $$$. If someone offers you a portfolio, classes, training, etc.... RUN do not WALK away. You do not need a portfolio. If you get into the business, your portfolio will be built with your work.
Reputable agencies will accept a candid snapshot of your child online. IF they are interested, THEY WILL CONTACT YOU!! Kim Dawson is a great agency in Dallas as well as the Campbell agency. Keep in mind the thousands of pictures they received from moms wanting their little one to be the next big thing!
Second.... this is putting your child to WORK. If your child has any success (most do not.... be realistic), put all money into an account for your child. If your child does not like it, then STOP. It is not about your ego, this is about your child.
Be ready fo a LOT of rejection. As precious as you feel your child is, he/she will be rejected much more than accepted. This hurts and you will hear things you don't want to hear. Modeling can crush self esteem. You both have to be strong. You also have to be prepared for the competitive stage moms who will eat you alive.
Modeling is WORK and it is not all fun, glory and glam. Of course it can be and has been rewarding for me but I would never rely on it as a full time income. My daughter does enjoy it but again, her education is more important to her. We own our own business and it is much more lucrative to support our business.. My company is #1 and I will only accept a modeling job IF everything works out perfectly for my schedule.
Be ready for your child to lose valuable time being a child because modeling gigs are not flexible and not convenient. You work when you are told or they move on. You cannot get that lost time back. My daughter did not start any modeling before age 12. I felt it was more important for her to be in school, develop her work ethic which will be with her the rest of her life, make friends and just enjoy her childhood.
You are not compensated for your time/travel most of the time so keep that in mind. I have turned jobs down where I would only break even. When I flew to LA to be with my daughter on a week long shoot, I am the one who paid my airfare, etc. So look at the bottom line regarding compensation.
My daugher does some print modeling for local magazines and has done some small sized fashion shows for department stores. I have done fashion shows, print and fit modeling. We do not take it seriously, we do it for fun and a little extra money.
Above all..... it is WORK and be ready for tons of rejection.