Hey there!
I am not a Cosmetic Chemist, but I am interested in making my own lipstick/balm. Here is a list of ingredients I have been playing around with so far and found a pretty decent consistency:
Beeswax, jojoba oil, coconut oil, castor oil, Vitamin E oil, and peppermint oil. (I use dyes and different ratios of these when making lipstick). I am just wondering if adding more ingredients, such as shea butter or coco butter would make the product more conditioning? Also, is there an oil I should add to make it even better? Grape seed oil? Neem oil? Almond oil?!
Sorry for the layman's terms, Chemists

Thanks for reading!
K
Comments
I would preservative challenge test every product that you produce. If there is ever an issue with contamination in the future, having preservative challenge testing results will cover you to some degree. I know the liability costs of selling a contaminated product in North America would FAR surpass the cost of testing for microbial growth before you sell your product. I would actually use preservatives in every product I produced, even if no water was present in the formula. Oils/fats can attract surface moisture and become contaminated over time.
For the insult patch testing/dermatologic testing, if you are using common ingredients that have a good history profile, then you should be okay without doing such testing. For example, if you composed a lip balm that included ingredients such as beeswax, lanolin oil, some common oils/fats - avocado, macademia nut, cocoa butter etc. - you could research the use of those ingredients by other companies and determine their safety profile, based on the percentages you intend to use.
I dont know how Philipino regulators classify lip balm. In North America, a cosmetic versus drug classification depends on whether you ingest the product or not, and most importantly, what claims you make about the product's effectiveness. If you dont make any claims about the lip balm and if it is considered an 'outside the body' product - not ingested - you probably wont get into trouble regarding the lack of testing for dermatological reasons.
One thing you should test for is stability. Even if your ingredients are safe and your product wont become contaminated with microbes because of ineffective preservation, you still want to make sure your product ingredients will retain their strength/effectiveness, that the formula will not separate, change colour, texture etc. in the long run.
It is important to do tests with the actual packaging you intend to use for your final product. As an example, when a formulator uses PVP-Iodine in any formula at a concentration below 5%, it can rapidly become unstable, over time, and lose its effectiveness - especially in plastic packaging.
PVP Iodine at lower than 5% concentration in a formula should be sold in a glass, amber jar, based upon the BASF product brochure recommendations. If a person was formulating with PVP-Iodine and wasnt aware of this fact beforehand, stability testing would let them know about the potential problem before putting their product on the market.
In conclusion, although I dont know the market parameters in the Philipines, I would at least do preservative and stabiltiy testing for all the formulas you distribute.
**Again, in the interest of full disclosure, I am an amateur formulator and dont have the training or experience of the formally trained individuals on this site. So, take my advise only as extra information.