Janice and her 'models' don't make money from her modeling agency and going out on shoots. They make money for being the mactors on Janice's pseudo-reality TV show. It wouldn't surprise me if the whole Kehoe story arc this season was planned out ahead of time and even got some writers in to draft a script.

Of course her agency will lose money in NYC -- it probably has never had a profitable month. But they all will make money by creating an outrageous, drama-filled show that keeps its audience coming back for more.