Why do you want to do it? Ask yourself seriously why you want to do it.
a) Will it make you feel better knowing he or she is seen as cute/characterful/pretty? Also, it doesn't equate that baby model = pretty baby (if that's the validation you seek) as they are often interested in pliable babies and ones that look a certain way. My child is gorgeous (naturally) but she'd never do for modelling because she's not plump.
b) What does your baby get out of this? I'm not saying they are tortured, but it's a lot of waiting about and hanging around for phone calls and travel and disappointment and hanging around in rooms. And even then you're more often than not left unused. There are more interesting and fun things you can do with your baby that are less goal oriented.
c) You realise that you're unlikely to make any money. You can, but not much for the majority.
d) Yes, she'll have memories, but they'll be ones of 'my mum was that desperate for exogenous recognition of my pulchritude that she waited by the phone for a month and drove me 200 miles to sit in a room all day'
e) What does it teach her about the value of society judging her by her looks. If she wants to model in her teens, then fine, it's her decision.
I'm going to break my rule about being impolite and snobbish (I'm sorry!) but I think its a desperately lower middle class thing to do.
shuffles Take-A-Look, reaches for Lamberts