print ad, etc. is expensive and a waste of money.
find an opportunity to set up some kind of event, where you can demo, etc.
you might be able to find a chinese restaurant that would let you do something out front for chinese new year. free publicity for them, free for you too.
check out guerrilla marketing for other ideas.
i haven't done too much yet, since my work schedule is wonky, but that's how i plan to roll when i start to do a lot more local advertising.
"events" are the way to go, because you can get some free media coverage out of it (i.e. in the states, the local news is always looking for something to cover).
i would suggest staying avoiding "martial arts gatherings". most people are already committed to their thing and you don't get much return. we have one here in town, and i think i've gone every year for the last five years, and it's like masturbation.