What It Costs to Create a Child Star

Once a child displays a desire to get into acting or modeling, parents should get in touch with an agent and manager. They have connections with producers, casting agents and others in show business who will prove extremely beneficial to anyone looking to make it big.

Agents and managers generally earn between 10% and 20% commission from their clients. But the experts agree that parents just getting into the business should be aware of scams. Costello said that agents and managers should make money only if the child makes money. "Anyone that wants to take money from the start is not credible. That is 100% illegal."

But what does that really mean?

According to Swift, there is a definite market for child actors, and they can make a range of income depending on the jobs they take. "Everyone wants to do TV," she said. "If they book a national network spot like Huggies or MasterCard, they will receive a residual payment each time the commercial airs. This can be up to $1,000." The children also receive a one-time payment for shooting the ad, which is generally just over $500. The agents and managers then take their cut of all money paid to the child, or parents.

Swift said print ads are a little different. If a child shoots a magazine cover, he or she receives a one-time payment. If a child shoots an ad campaign and the shots get used, he or she receives the one-time payment plus a bonus, which can be upwards of $2,500. In both print and television, the deals are made by time usage, and once that period has ended, agents can renegotiate with the advertisers for a higher bonus or residual payment.

But parents shouldn't quite their day jobs yet. While there is success to be had, the acting world is also highly competitive, and not all kids have what it takes.

Costello, who is also a judge on VH1's I Know My Kid's a Star, said she looks for children who are "fearless and willing to do anything. It is great when they are in touch with their emotional core." She added: "I also look for parents who aren't a pain in the ass."

Jontz, who also wrote FabJob Get Your Child into TV Commercials, echoes Costello's sentiments. He said parents who believe that their son or daughter is destined for stardom should consider a few key things before sending them on auditions. He said to look for a little precociousness, whether they talk to adults on a one-to-one level, and how well they follow directions. "It helps to watch how they act in other environments, like karate or ballet class," said Jontz.

But the most important thing is that the children, as well as the parents, have a desire to be in acting. Costello said, "Parents should want to do it because their kid eats, sleeps and breathes acting, singing or dancing."

Because, when it comes to financial gain, Jontz said that acting may actually be more like a hobby that pays for itself. "Most kids will not make a substantial amount of money. Only about 1% or 2% will actually make enough to cover the cost of college."