Here is an easy recipe you can try to prepare home made lip balm.
1 1/2 tsp grated beeswax
1/2 tsp shea butter
1/2 tsp jojoba oil
1/2 tsp sweet almond oil
3-4 drops sweet orange essential oil or peppermint oil (or another flavor oil if you prefer)
10 drops vitamin E 1000 IU
Melt beeswax, shea butter, and oils together in a double boiler. Remove from heat. When mixture has cooled down a bit, add essential oil and the vitamin E into the mixture. Stir and pour into lip balm containers. Allow to solidify. This should be hard enough to use in lip balm tubes. If it is too hard, add a little more jojoba or sweet almond oil. Makes about 5 tubes.