If you're even thinking about radio...I would swap gift certificates for advertisement. I do it with two radio stations in my area, and have been running radio ads for almost 2 years consistently. Now, I'm booked into mid May...and I wouldn't doubt the radio has something to do with it.
They sell half off deal certificates, keep the money, and in turn give you radio ads of your choice. Beats paying them thousands to run ads. Plus, the customers come in with the certificates, and spend more money on packages. Can't lose.
$5000 is a LOT to spend on advertisement. I wouldn't go and just drop all that money directly into different forms of advertisement.
I think anyone in this business would agree...that ads don't work the first time. The second time they start to....and the third time you are seeing results. That's pretty much the rule for most advertising. Being repetitive is the key to advertisement success.
Obviously your choice of advertisement is also important. Today, I honestly think putting money into search engine optimization is very important. Everybody and their mother uses Google. You use google, your friends use google...which tells me, pretty much everybody uses search engines. I would look into that.
Radio is OK. Sometimes it works, sometimes it doesn't. It's worked for me, but that doesn't mean it will work for you. The station you choose to do business with is crucial. Choose the station that people listen to most in your area. More or less you wanna use the station people go to for the weather, school cancellations, or the station you hear in most retail stores, etc.