Facebook advertising needs a different way of looking at things.
When you do Adwords you are getting people who are searching for something NOW!
With Facebook ads are appearing based on what YOU and Facebook THINK you MIGHT be interested in.
Boring as it may be the starting point is to sit down and think about your top 20% of customers. Ask yourslef what they all tend to enjoy doing, where they tend to live (obviously), what magazines they tend to read, cars they drive. In fact all the stuff (if you're taking any notice) you should be doing anyway.
Also just like Adwords it's the initial data you get back that will make it profitable. Most adwords and Facebook ad managers know they will lose money in the first few days. They then use that data to hone the searches.
So yeah you guys looking for the cheap magic bullet? There ain't one.
Nearest thing is a Facebook Page and a fully optimised Google Places entry as these are no brainers. Both still require an input of time though rather than money.