As one person who “woke up and decided since I’m published and an English major, I should be an editor,” I can see your point of being only one type of editor. I’m not a good copyeditor at all and don’t offer my services for that situation. It’s funny that you would say a traditionally published type editor would be better than the independently published editor. I found this to be totally untrue since I have worked with both. My traditional editors from St. Martins Press and Bantam books working a total of 35 years in the industry, was the worst editor of all. My independently published editor/book coach, is the most knowledgeable. So there is a bit of a disparage. It’s not an absolute science, editing.
I am not without sympathy when some new authors get “sticker shock” upon hearing an estimate for my editorial services, and I am actually relatively affordable. (Most reasonably well-written novels would not cost even close to $3000 for me to edit, let alone $5000.) I also offer generous installment plans and discounts for bundled services. But there is a limit to how low I can go.
I have taught college preparatory English, writing, and grammar, for the last 18 years. My experience as a teacher makes me uniquely qualified to edit works for fluidity of thought and content, accuracy of grammar, and clarity. As a teacher, I have become a master communicator. Paying attention to detail is a requirement in the English field and something I have mastered.
Software and Systems – Some of us writers like using certain types of writing tools or software.  I personally love to write my books using Scrivener, and will then switch to Google docs for better tracking systems.  However, I've run into editors who only use Word document.  That's no bueno for me.  So, make sure they are good with whatever writing programs you want to use.
It can take some time to find the right editor, so you may want to start asking around even before you have a text that is ready to send. If you know a fellow author who can recommend someone, that’s wonderful, but if not, it’s fine to poke around the websites of some editors and see who appeals to you (and seems to work within your genre). Then contact them by whatever method they request (often a contact form on their site).
I just published my fourth ebook novel recently and I've used Ebook Launch every time with very satisfactory results. They always promptly turn around the cover and manuscript formatting - and as an added bonus, they always promptly and happily answer even the stupidest questions I come up with. Adrian is very easy to work with and Dane has repeatedly come up with cover ideas when I was fairly sure that it couldn't be done.
We may be talking about different services. I’m referring to a full read that usually creates a 5-10 page edit letter–no in-line editing. Or, perhaps we’re just working in different corners of the market. I’m around those who are freelance editing pre-query for writers hoping to traditionally publish their genre fiction, not the kind of rigorous editing a self publishing author would need, which should rightfully be much more expensive! It’s true that most people doing freelance editing at the lower rate/rigor aren’t doing it full time. It’s an optional step for those traditionally publishing, and the prices reflect maintaining access for those writers, I believe.
We’ve set up a unique “first chapter critique” service which includes up to 5,000 words (which should actually include 2~3 chapters… or a prologue, preface or intro). This will be an deconstructive developmental edit, pointing out exactly where your weaknesses lie and what you can do to make them better, but will not include a full edit or proofread. We will, however, edit your blurb, bio or query, as long as they fit within the 5K word limit.
It’s always sensible to follow due diligence in submitting your first draft of your book to an editor by making as fool-proof a copy as possible for you because first, it is your own creation, and secondly, a horrid draft sent your editor can end up frustrating both you and him or her. Make your own corrections to the extent you can, so that will make the job of your editor that much lighter and the end result would be a lot more effective.
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