In the words of a local accountant, "It all Depends".  Depending on how fast you want to grow your business, the percentage of the amount spent on a marketing budget (MB) can vary.

In 1998, Inc. Magazine interviewed the nations' top 500 companies and found that this is how they spent their dollars:

"3% of the firms spent 1% of gross sales, 43% of the companies spent 1-5%
and 25% of companies spent 6-10%. Amazingly, 18% of these companies
spent 11-20% of their gross receipts on marketing and 10% of the interviewees
spent 21-50% of gross receipts on sales and marketing efforts!

Now that's commitment!"

Ok, enough of the facts.  You can use one of the above percentages, or to
keep it simple, you can use this cool method:

Take 12% of your yearly gross sales (or estimate gross sales) and
subtract from it the yearly rent.  The remaining amount should be your yearly
MB.

From that remaining amount here is the breakdown of how to allocate your
MB.

50% to Build your Brand

25% for Special Events/Sales

15% for Unexpected Opportunities

10% for Fourth Quarter Slush (Or your busy season)