If it's something you're interested in... check it out.
DO be prepared for a couple things:
Honest critiques of your child's APPEARANCE. ((There's a NipTuck episode which cracks me up having been in modeling as they talk about gorgeous baby's "thin, villanous lips")). You child may be simply stunning... but industry types will be breaking your child down into pieces - eyes, eyebrows, ears, hair, cheeks, chin, lips, lashes, neck, gums, teeth, shoulders, belly button, rolls... EVERY single part of her body. They will NOT be treating your child like a child... they will be treating her like a photograph. - Just as an example... I could NEVER do headshot type photoshoots. My face is just "wrong"... cheeks too high, eyes to big, neck too long, nose too short... I just look "wrong" in stills - flat places where there should be curves, curves where things should be flat... my face is just wonky. But in motion... I could sell snow to Antarctica. And I'm over 6' so I could feed and roof myself on runway jobs all year round. Even then, though, you're standing around naked talking about a 1/16th of an inch here, there, no you're all wrong for THIS dress, your calves in these boots make you look like a cow... the list goes on.
In modeling your body becomes a "product". And you're treated like clothes in a dressing room... tossed on the floor 1000 times. It's NOTHING personal, it's all about the product ... but most people can't take it that way because their appearance is VERY personal to them. This goes about a million for parents regarding their children.
They hear "no", or "too thin", or "too fat", or "nose is a disaster", or "ewww", or "too lumpy"... and they FREAK OUT at the idea that something is actually wrong with their child (as opposed to not what's wanted for the photograph), or they get furious that someone can't see how gorgeous their child is.
So if you can take hearing that your child is hideous on a regular basis... and to have her treated like a cut of meat...then yes. Absolutely look into it. But if you can't, if it would affect how YOU see your daughter... then avoid modeling like the plague.
The other thing to consider is this: Most gorgeous babies turn into ugly children, or ugly adults. It's because the things we find beautiful in babies don't usually translate well into what we consider to be beautiful in adults. It's not always true, some gorgeous babies make gorgeous adults, but it's usually true. And the converse is true as well. Ugly babies usually make drop dead gorgeous adults (look at the baby photos of A list stars... nearly every single one is a "yikes" baby). So a LOT of parents with gorgeous babes or gorgeous kids have to go through a very painful process of getting rejected more and more frequently as their child AGES. This can be a reeeeeally big problem. Because, as always, looks do NOT define a person. But in photography... it's the appearance that matters... not the person themselves. But because the rejections start flying ... parents will often try and "fix" a child, or they have learned to link approval by others as self worth or the worth of their child. And by the time a child is old enough to "age out" of modeling, they've linked that approval and self worth together as well. I've seen it happen a lot. And it's so, so sad.