I have never been to Africa, so I am not sure what a classic game ranch is.
Very good description by
@Kevin375 , above.
Other way of hunting in Africa (outside of farms or ranches) is in wild country (wilderness)- but those hunts are way more expensive, for variety of reasons. Those are tribal communal areas, and government concessions.
Game farm in Namibia does not mean only "fence". It covers high fence for introduced game, low fence that keeps the cattle under control. Wild animals jump over the low fence without issue.
Large unfenced areas can be under some concession with animals in free migration.
On central farm lands, generally there is no lion, black rhino, and buffalo. But majority of Namibian game species can be found there, plus some south African introduced species (like nyala).
Game farming (ranching) made what is known as Namibian and South African conservation success. Wild animal census sky rocketed in last decades with game farming practices, and some species are saved from extinction with that practice. This is arguably the best conservation model in Africa till now.
So game ranch will have nice facility for guests, full lodging, food and meals, bar and all taht in African style.
A hunter will have a certified guide (PH, professional hunter), tracker, skinner in camp, laundry, cooks, pick up and drop off to airport. This full logistics is covered by day rate.
Namibian game ranch in average will offer free range hunt and fenced hunt.
For each animal hunted or wounded a trophy fee is to be paid.
So the price of hunt is day rate + trophy fees.
Other expenses: flight tickets, trophy shipping, taxidermy, rifle rental, or souvenirs shopping.
South African main difference from Namibia is that in most of the cases, as defined by law, the hunt will be in high fence only.
