Okay, so I'm moving to a new job starting next week. It's a great job with a small company. I'll be telecommuting and making more cash than where I'm at. Right now, I'm working for a very very large publicly traded company (billions per year...) and believe it or not, I'm the only dedicated web developer. They've got tons of projects and work that they will need help maintaining until they can get a solid team of developers built and when they do have a team together, they will need me to do a knowledge transfer as well.
I'm leaving this company on excellent terms. I've been told that if things don't work out, I can come back. I've also told them that I'd do contract work for them as well. So, here's what I'm thinking of doing:
Contract on an hourly basis, with a maximum number of hours per week that I'm available to work. (This other gig is full time and I don't want two full time jobs.) I'm thinking of giving them two options:
1) Pay on an as-needed basis $XX per hour. I invoice twice per month or weekly, at their option, and they pay within XX business days. This gives me more cash, but none up front necessarily. (I'm not worried about them not paying, it's a very good company that takes care of their people.)
2) They can pre-pay for time in 10 hour increments at a discounted rate of $NN per hour. Pre-payments would be due by the first of the month in which the hours will be used. Hours not used that month will be carried over to the next month but will expire within 60 days. This has the advantage for me of having cash in hand up front and it saves them money on the total development.
I know that they've got several large things that they'll need done and the knowledge transfer will take quite a bit of time as well, so I'm sure they'll be utilizing my services.
Also, if I need to travel to their offices at any point, would you recommend charging for travel time? (It's about a 20 minute drive up here...)