A successful web site has to address several requirements:
Studies show that 98% or more of people searching the Internet use search engines or directories to find web sites. Except for a few human-reviewed directories, these services use automated programs called "robots" or "spiders" to evaluate sites. Automated programs cannot determine what a site is about from graphics alone! Robots and spiders catalog a site's keywords, topics and so forth by evaluating text.
A site containing only text copy is frequently boring, and a site which contains only graphics is often confusing. You need both to provide interest and encourage site exploration, and to encourage visitors to stay. People scan graphics rather rapidly and move on, while spending more time evaluating stimulating text-based ideas. Studies show that the longer a visitor lingers on a site, the more likely they are to purchase the products or services offered at the site.
You will need a reasonable mix of both graphics and well-written text for success.