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.
(..) and now you've got to leave? I've got to go. - This girl is important to me. - Harry, please. Look at her. Do you think a woman like that is sniffing around because she likes your personality? - What are you saying? - Your mother was beautiful too. They're all beautiful until they're snarling after (..)2002 Spider-Man
(..) Hey, what's in this tunnel? You listen to me, and you listen good and proper. Anything happens to him, you have me to answer to. One sniff something's not right... ...one hair stands up on the back of my head, it's over. No more slinker. No more stinker. You're gone. Got it? I'm watching you. (..)2003 The Lord of the Rings: The Return of the King
(..) To take certain duties on board The future is littered with prizes And though I'm the main addressee The point that I must emphasize is You won't get a sniff without me! So prepare for the coup of the century Be prepared for the murkiest scam Meticulous planning Tenacity spanning Decades of denial (..)1994 The Lion King