The team did not even get a 'sniff of' the play-offs last year. [=did not even come close to reaching the play-offs]
It's not a big profit, but it's 'not to be sniffed at'. = It's not a big profit, but it's 'nothing to sniff at'.
Several companies, 'sniffing' [='sensing'] profit potential, are investing in the area.
(..) line twice and he didn't alter it. Within a month? How did you get that? New Breitling. Only came out this February. OK. So do you think we should sniff around here for a bit longer? Got everything I need to know already, thanks. That graffiti was a message. Someone at the bank, (..)2010 TvShow: Sherlock Title: The Blind Banker Season: 1 Episode 2