Speaking from a residential perspective, putting graphics on our truck was one of the best things we ever did. It directly paid for itself within 6 months. We did a wrap that cost ~$1500. It still gets us jobs every year.
Additionally, it reinforces professionalism, which is one of those intangibles (along with uniforms, professional bid sheets, etc) that lead to closing more sales. And WAY more
People stop to ask for estimates with the wrapped truck parked at a job.
Finally, Very few people have tried to negotiate with me in the 3.5 years we’ve had a wrap (as opposed to the first few years working out of a subaru with a magnet on the door). It’s more understood that this is a professional business and our price is our price.
So, graphics aren’t mandatory, but if I could go back, I would have wrapped it the minute we got the truck. Of course, early on, there are a lot of things to spend money on (and not a lot of money), so it’s understandable that someone might need to wait to make that move.