It depends on your target audience. You are best going the highly targeted route. Create content around the target audience. Get an awesome landing page and use the content to draw them in. Even implementing remarketing will help conversions tremendously.
Starting off, you could get away with $25/day. Then you see how the results are. You never want to put in a ton of money starting off with online ads. There will be failure in the beginning. It will take about 3 months to 6 months to really find your groove.
Let's connect and we can talk more in detail about your audiences and your business.