In a mixing bowl, cream together the butter and sugar until light and fluffy.
Add the eggs one at a time, beating well after each addition. Stir in the vanilla extract and red food coloring.
In another bowl, whisk together the flour, baking powder, and salt. Gradually add the dry ingredients to the wet ingredients, mixing until just combined.
Pour the batter into a greased baking pan and spread it evenly.
Bake for 25-30 minutes or until a toothpick inserted into the center comes out clean.
Allow the cake to cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.